A number of top executives have jumped off the Transnet train. But, the SOE says its turnaround plan for the business has been completed. It will be submitted to shareholders as early as next week. The turnaround plan outlines operational and financial initiatives to be implemented over the next 18 months.
It hopes the strategy will stabilise the business and position the company for growth. it’s hoped the focus on freight rail will help reverse the 7-and-a-half-billion rand loss reported last month.
Transnet has been rocked by a number resignations in recent weeks. The latest to disembark is board member Popo Molefe.
Source: eNCA
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