TransNamib Holdings has appointment of Johan Piek as Executive Turnaround Project Manager for a period of 3 years, with effect from 15 October 2014. His focus points, as mentioned at the launch of the 180 day turnaround plan, will be on the revival of the 12 GE locomotives, supporting the human capital restructuring process, addressing the operational shortfall and long standing debt.
Piek will simultaneously develop and implement the medium term strategies focused on rail infrastructure and technology upgrades, while targeting revenue maximization and implementing effective financial and risk controls.Piek has 21 years of experience as an investment banker. He holds a BJuris LLB and Honns BCom from the University of the North-Wes (Potchefstroom), MCom Accounting from the University of Pretoria and a LLM from the University of Virginia in the USA.
He was a professor of Commercial law for 15 years and a practicing lawyer for 3 years before he started his investment banking career. During his academic career he co-authored a number of books on commercial and tax law.
Two of the noteworthy transactions implemented during his 7 years as investment banker in Namibia was raising funding for Ohorongo Cement, with a project cost of NAD 2.5 and putting a funding package of N$1bn together for a new Airbus A330 for Air Namibia to use on its routes to Frankfurt.
Dantagos Jimmy-Melani, official spokesperson of the Board said “Piek has been tasked with executing the Turnaround Strategy with due diligence and care while managing the downside risks of such a process and reporting back to the Board on a regular basis. This is yet another commitment by the Board to ensure that all promises made are delivered on timeously and within the proposed budgets.
As part of the 180 Day turnaround plan as well as medium – term infrastructure and revenue stream development strategy for TransNamib. We are confident that these goals will be achieved and even exceeded.”Jimmy-Melani added that the appointment had the full support of the Board, the Shareholder and the Executive, who would continue to work together to ensure that the plan was successful.
Piek welcomed the trust put in him by the Board and said he looked forward to the challenge.
“My key performance indicators are to assist management to ensure the successful implementation of the 180 day Turnaround plan and the 3 year Turnaround Strategy. I am pleased that my appointment will free up the CEO and senior management of TransNamib so that they can continue concentrating on the pressing day-to-day operations that require urgent attention while the Turnaround strategy is being implemented.”