Cape Town – Transnet CEO Portia Derby has resigned after three years in the position.
She submitted her resignation to the Transnet board, with her departure set for the end of October.
According to Times Live, Derby and Transnet Freight Rail (TFR) CEO Sizakele Mzimela had faced pressure from industry bodies to resign due to troubles at the state-owned enterprise.
The Minerals Council South Africa had previously called for their replacement, citing the negative impact of Transnet’s operational issues on the mining industry.
Transnet CEO, Portia Derby and CFO Nonkululeko Dlamini are leaving the state-owned logistics company. #DStv403 pic.twitter.com/FP27tlRA7j
— eNCA (@eNCA) September 29, 2023
These issues, including rail and port network constraints, had led to a significant drop in exports and financial losses for bulk mineral exporters, the report said.
The Durban Chamber of Commerce and Industry had also expressed concerns about Transnet’s leadership and operations at the city’s port.
Derby took on the role in February 2020 with the mandate to address the corruption and mismanagement that plagued Transnet during the state capture era, News24 reported.
However, both she and Sizakele Mzimela, who leads Transnet Freight Rail (TFR), have been unable to successfully steer the company towards recovery, the report said.
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Compiled by Betha Madhomu
