TRANSNET SOC LIMITED - Transnet Soc Ltd: Resignation of the Group Chief Financial Officer, Mr Garry Pita

Transnet Soc Ltd: Resignation of the Group Chief Financial Officer, Mr Garry Pita


TRANSNET SOC LTD 

20 April 2018


Resignation of Transnet’s Chief Financial Officer: Garry Pita


Transnet SOC Ltd has accepted the resignation of its Chief Financial Officer Mr Garry
Pita, who resigned on 19 April 2018.

Mr Pita rendered his resignation after over 12 years in service at Transnet. Before
being appointed Group Chief Financial officer in February 2016, Pita was Transnet’s
Group Chief Supply Chain Officer.

Transnet would like to thank him for the invaluable role he played in turning around
the company’s financials during his tenure as CFO.

He leaves Transnet at a time when it is on the positive path, having weathered much
of the storms arising from the global commodity crisis in the recent past.

In 2017, Pita had advised Transnet’s Group Chief executive and Chair of the Board
that because of his continued ill-health, he would tender his resignation at the end of
the 2017/2018 financial year which ended on 31st March 2018.

“In the interest of my health and family, I have decided to focus on other priorities. I
am thankful that Transnet has agreed to release me at this time and wish to thank all
the incredible colleagues and members of the Board for their support and guidance
during my stay here. I will forever be grateful to them. I am very proud of what the
company has achieved and the positive impact it continues to have on its employees,
the economy, the transformation and empowerment of previously disadvantaged
groups, and ultimately the people of this great country. The company is on a positive
trajectory and is in good hands,” said Pita.

 “On behalf of the Board of Transnet, I wish to thank Mr Pita for his valuable
contribution and commitment towards the sustainable turnaround of Transnet as it
charts a new path. He has worked hard in assisting to carry a new vision of growth
and geographical diversification” said Transnet’s Group Chief Executive Mr Siyabonga
Gama.

He thanked Mr Pita and his family for the commitment and sacrifice during his tenure
and wished him the best of luck in his future endeavours.


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Mr. Mark-Gregg McDonald will act as the interim CFO.


Issued on behalf of Transnet SOC Ltd

By: Molatwane Likhethe, Spokesperson.
011 308 2458/083 300 9586
Molatwane.likhethe@transnet.net


For more enquiries please contact:
Nompumelelo Kunene
External Communication
011 308 2384
0810466087
Nompumelelo.kunene2@transnet.net




About Transnet

Transnet is wholly owned by the Government of the Republic of South Africa. The
company is uniquely positioned to provide integrated, seamless transport solutions for
its customers in the bulk and manufacturing sectors. This is part of its drive to improve
the efficiency and competitiveness of the South African economy.

Transnet has five operating divisions:

Transnet Freight Rail transports bulk and containerised freight along 20 500
kilometres of which 1 500 kilometres comprises heavy haul lines for export coal and
export iron ore.

Transnet Advanced Manufacturing, also known as Transnet Engineering
manufactures and maintains rolling stock. It consists of eight product-focused
business units which provide services ranging from rolling stock refurbishment,
conversion and upgrades, to the manufacturing of locomotives, coaches and wagons.

Transnet National Ports Authority is responsible for the safe, efficient and
effective functioning of the national ports system, which it manages in a landlord
capacity. The National Ports Authority is also a provider of port infrastructure and
marine services at all commercial ports in South Africa.

Transnet Port Terminals owns and operates 16 cargo terminal operations situated
at seven South African ports. It provides cargo-handling services for the container,
bulk, automotive and break-bulk sectors.

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Transnet Pipelines transports a range of petroleum products and gas through 3 000
kilometres of underground pipelines, which traverse five provinces, thereby ensuring
the security of supply of petroleum products to the inland market, especially Gauteng.
Transnet Pipelines is gearing itself for full commissioning of the new Multi-Product
Pipeline.

Specialist units:

Transnet Capital Projects manages our largest capital projects;

Transnet Foundation is responsible for executing our Corporate Social Investment
initiatives.

Transnet Property manages our property portfolio.




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