Denel company logo, Pretoria. Picture:REUTERS/SIPHIWE SIBEKO.
In November, Denel fired Odwa Mhlwana after he was found guilty of all disciplinary charges relating to irregular expenditure. At the time the company appointed Wim de Klerk, former CEO of ArcelorMittal SA as acting CFO, while it started the process of finding a permanent replacement. Her job will be to oversee the financial affairs of the Denel group, and to play a critical role in improving audit results, financial systems and capability, the firm said.Last week, the company, which has been struggling to pay salaries, announced that it had received R1.8bn from the government to help it stay afloat while it develops a long-term survival strategy.
Denel group CEO Danie du Toit said Le Grange is joining the company as its turnaround strategy begins to deliver results. H
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