Transnet boss Portia Derby resigns

Transnet Group CEO Portia Derby has surrendered to pressure from several quarters and resigned from the embattled ports and rail state-owned group. She will leave at the end of October.

Derby and Dlamini’s departure come after Transnet faced increased pressure and calls from organised business bodies, including the Durban Chamber of Commerce and Industry and the Minerals Council of SA, to resign in the wake the group’s worsening operational and financial performance. SA’s official opposition party, the DA, also later called for Derby’s resignation for similar reasons.Business’s fraying patience with TransnetTransnet swings to R5.

Transnet said its broad has appointed Michelle Phillips, current Chief Executive of Transnet Pipelines, as acting Group CEO with effect from 1 November 2023, while a recruitment process for a permanent CEO is underway.“Both candidates were considered and recommended by the board as suitable to step into these respective roles in an interim capacity. Both Derby and Dlamini will be available to assist with the necessary handover processes as required,” Transnet pointed out.

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