This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
BusinessLive reports that the British airline turnaround expert Peter Davies is to step down as the chief restructuring officer (CRO) of SAA.
Davies, who was appointed less than two years ago, will remain an adviser to the board and a new full-time CRO will be sought. Davies, who was formerly head of Air Malta and Brussels Airlines, had been based in the UK during his tenure. SAA spokesperson Tlali Tlali said on Wednesday that the airline had advertised the position of the CRO to enable a successor to assume the responsibilities held by Davies. Lenders had required that a CRO be put in place at the airline. It is now also a condition of the Treasury that a CRO be appointed in state-owned enterprises that receive government bailouts. The position of CEO was also advertised last weekend. Former CEO Vuyani Jarana resigned in June and left immediately. The chair of SAA, JB Magwaza, resigned in July. SAA is holding out for a R3.5bn bailout from the Treasury once the Special Appropriation Bill has been processed and signed by President Cyril Ramaphosa. In addition to the bailout, SAA requires another R4bn to cover its working capital for 2019/2020 and must either roll over or repay R9.2bn of debt at the end of this month. But lenders remain cautious.
- Read the full original of the above report by Carol Paton at BusinessLive
Get other news reports at the SA Labour News home page