Morwe will be replaced by acting CFO Mohammed Mahomedy
Transnet has decided not to extend the contract of acting CEO Tau Morwe, the state-owned entity announced on Wednesday. Morwe was appointed as acting CEO in November 2018 after the axing of Siyabonga Gama.
Gama’s axing came after investigations found that he, former CEO Brian Molefe and Gupta associates may have acted unlawfully in relation to the purchase of 1,064 locomotives for R54bn.Transnet on Wednesday said Morwe would be replaced by acting CFO Mohammed Mahomedy, who will now be acting CEO.Transnet was one of the state-owned entities looted during the state-capture project.
"To this extent the board commits to continuing with the programme and plans started by Mr Morwe," Molefe said in a statement on behalf of the board.
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