SAA Board Members Quit

Chairwoman Cheryl Carolus and six others have resigned from the board of South African Airways. This comes after a decision by South Africa’s Public Enterprises Minister, Malusi Gigaba to cancel SAA’s AGM this week and his request to parliament for a two-month postponement of the tabling of its annual report. Carolus was quoted as saying that “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." The board members who told Carolus they were leaving with her are Bonang Mohale, David Lewis, Jabulani Ndlovu, Louis Rabbets, Margaret Whitehouse and Teddy Daka.
The first board member to go, Russel Loubser, resigned with immediate effect on Wednesday, citing a lack of support from the Department of Public Enterprises - the airline’s shareholder. Earlier this year, it emerged that SAA was looking for up to R6-billion in extra funding from the South African government. Eight of SAA's 14-member board have resigned so far.