South African Airways (SAA) face an uphill battle after its chairperson Cheryl Carolus and six other board members resigned.
This all came after Public Enterprises minister Malusi Gigaba cancelled SAA’s annual general meeting this week and requested a two-month postponement of the tabling of is annual report. “There has been a breakdown in the relationship with the shareholder. I thought we had agreed on a strategy. I’m finding it frustrating that this notion continues to exist that there is no strategic vision on the table at SAA.” said Carolus Former JSE CEO Russel Loubser was the first board member to quit, citing a lack of support from the Department of Public Enterprises, the report said. Out of the 14 board members, 8 have now resigned.“After careful thought I also decided to resign, along with other members of the board. These are just the people who indicated to me that they will resign,” Carolus was quoted as saying.
“I believe in the airline, I believe it is a critical national asset at the southern tip of the hemisphere. It will always be an airline that is tough to run,” she said.