Denel attracts criticism of its new CEO

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Date: 4 February 2019
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Denel attracts criticism of its new CEO

4 February, 2019 - Despite the criticism levelled at it following the appointment Mr Daniel du Toit, a white male, as the new Group CEO, Denel has stood by its decision saying that priority lay in the board’s ability to return the company to profitability and operational sustainability.

A company statement said that Mr Du Toit was appointed after a thorough, transparent and rigorous recruitment process that searched internally and externally for the most suitable candidate. He had emerged as the top candidate, was recommended by the Board to the Minister of Public Enterprises, and was subsequently approved by the Cabinet.

"The new CEO will be part of a broader team that will not only be diverse but will be truly representative of our country’s demographics," the statement reads.

"The Denel Board is confident that Mr Du Toit is the right person to lead Denel in the next phase to revitalise the organisation and to restore confidence amongst investors, clients, partners and suppliers." Ms Monhla Hlahla, Denel Board Chairperson says, "The decision to appoint Mr Du Toit was made with our eyes open to the racial and gender imbalances in our country and in the knowledge that we are accountable to the country on the decisions we make as a board."

"The CEO is a distinguished industry leader with wide ranging experience in the defence, technology and aerospace environments, predominantly in the private sector. During his five-year tenure at Denel, he will build on the turnaround strategy introduced by the Board in 2018 and lead the efforts to restore Denel’s position as a global technology leader and one of the top defence companies in the southern hemisphere. For Denel, transformation of our workforce profile is a non-negotiable legislative imperative that is implemented in a responsible manner across the group", says Ms Hlahla.

"We have no doubt about Mr Du Toit’s commitment to the transformation of the company and we are confident that he will lead the process to turn Denel into a company that reflects our aspirations to be a truly representative and admired South African company," says Ms Hlahla.

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