| Mon 22 Feb 2021, 9:33 | | Changes to the board - BIDEN |
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Changes to the board - BIDEN
DENEL SOC LIMITED
Registration number: 1992/001337/30
JSE Alpha Code: BIDEN
CHANGES TO THE BOARD
Acting Group Chief Executive
Following the expiry of Mr Talib Sadik’s contract as acting Group Chief Executive of
Denel, the Board of Denel has nominated Mr William Hlakoane as the acting Group
Chief Executive of Denel. The aforementioned nomination was approved by Denel’s
shareholder, being the Government of South Africa, and Denel is now in a position to
confirm the appointment of Mr William Hlakoane as the acting Group Chief Executive of
Denel effective 22 February 2021 and for a period of six months. Coinciding with the end
of his tenure as Acting GCEO, Mr Talib Sadik has resigned as the director of Denel.
William Hlakoane is the current Group Chief Operating Officer of Denel which allows
for a seamless transition. He has a wealth of experience in the manufacturing sector,
backed by a solid career track record that adds value to Denel.
Mr Hlakoane is a Mechanical Engineer with an MBA, an experienced executive in
Operations Management with in-depth technical abilities, project management and
business development.
The Chairman of the Board, Ms Monhla Hlahla, says the Board wishes to thank the
outgoing Mr Talib Sadik for the enormous value he has added over the years and more
specifically during his acting period.
Ms Hlahla further wishes to assure employees, suppliers, customers and all
stakeholders that while the board is dealing with the difficult financial challenges – the
focus remains on turning around the business towards sustainable growth and
profitability.
The Board welcomes Mr Hlakoane into the interim role and looks forward to working
with him on a successful outcome for Denel.
The recruitment process of the permanent Group Chief Executive Officer is underway
and the appointment will be communicated to all stakeholders in due course.
Resignation of directors
The following resignations were noted at Denel’s Annual General meeting held 29
January 2021:
- General (Retired) Siphiwe Nyanda resigned effective 21 January 2021.
- Ms Kabelo Lehloenya resigned effective 14 January 2021.
Subsequently the following resignation have been received:
• Dr Sibusiso Sibisi effective 16 February 2021.
• Ms Sue Rabkin effective 18 February 2021.
For further information, contact:
Pam Malinda
Cell: +27 (0) 82 686 2198
Tel: +27 (0) 12 671 2662
email: pamm@denel.co.za
22 February 2021
Debt Sponsor
Nedbank Corporate and Investment Banking
Date: 22-02-2021 09:33:00
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