Transnet’s Siyabonga Gama refuses to step down

Following the 10-day deadline issued to Transnet CEO Siyabonga Gama to motivate why he should not be fired by the board, Gama has simply decided to ignore their demands and continue in his role as CEO.

He has also given the company’s board his own deadline.

Sunday Times reports that the current Transnet board has until close of business on Tuesday to abandon their plans to fire him as he claims they have no authority to remove him from his position.

The Transnet board served Gama with a letter informing him of their intention to terminate his employment last month.

The reasons provided relate to alleged serious violations of his financial, procurement and fiduciary responsibilities as Transnet CEO. As a result, the board lost trust and confidence in his ability to lead the parastatal, according to a media statement. They also want him to repay R151 million in overpayments to Gupta-linked consultancy firm Regiments Capital.

ALSO READ: Transnet aiming to be global player by 2020 – Gama

Gama reportedly sent a letter, through his lawyers, to the board chair Popo Molefe, President Cyril Ramaphosa and Public Enterprises Pravin Gordhan stating that the board had not yet responded to his representations in response to a notice of suspension that was sent to him in August.

He also went on to state that his contract stipulated he could only be fired by cabinet through Gordhan.

As a result of the legal action brought against him, Gama expressed his intention to hold individual board members liable for his legal costs as he believes their case against him is not legally sound.

For more news your way, download The Citizen’s app for iOS and Android.