Image courtesy Denel
Mr Sadik, a qualified Chartered Accountant (SA) and former non-executive director has worked with the Board in developing the turnaround plan and positions him well for a seamless transition. Mr Sadik served as Denel’s Group CEO between 2008 and 2012 and brings a wealth of experience that will be of value to Denel.
The Chairman of the Board, Ms Monhla Hlahla, says the Board is continuing its efforts to transform Denel into a sustainable defence and advance manufacturing company and wishes to assure our employees, suppliers, customers and all our stakeholders that the Board’s focus on the turnaround strategy is top priority.
The Shareholder and the Board continue to find solutions to resolve the short-term challenges of the company.
The Board welcomes Mr Sadik into the interim role and looks forward to working with him on a successful outcome for Denel.
The Audit Committee will continue to remain duly constituted as per the company’s act.
The recruitment process of the permanent Group CEO is underway and the appointment will subsequently be communicated to all stakeholders.
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