02 Mar 2017 14:10pm
WINDHOEK, 02 MAR (NAMPA) The TransNamib Board of Directors has resolved to appoint a new chief executive officer (CEO) as soon as possible, its Chairperson Paul Smit has said.
Smit gave the assurance here on Wednesday during the launch of six locomotives, 90 sulphuric acid tankers and two reach stackers.
He said the decision to appoint a new CEO as a matter of urgency to identify additional market opportunities and implement cost saving measures was taken during a special meeting on 23 February 2017.
Smit told Nampa Thursday they are nearing the end of the process to identify a consulting company to assist in selecting candidates to be interviewed. He noted that the post was advertised in local newspapers last year and several applications were received.
We are looking forward to signing the contract with the company today or tomorrow, he said.
Smit said the company will evaluate selected candidates and may also assist in head-hunting to fill the vacancy.
TransNamib Executive for Strategy and Stakeholder Management, Hippy Tjivikua has been acting as CEO since the suspension of Sara Naanda in October 2014.
Naanda was charged with three counts of breach of confidentiality, breach of trust and conflict of interest.
The two parties settled out of court in April 2016 after protracted negotiations.
Smit said after the appointment of the CEO, the board will create a new position of chief operating officer who will assist the CEO to identify and address operational inefficiencies and transform the company, among other duties.
The new CEO should also upgrade and finalise the integrated strategic business plan within three to six months after appointment, he said.
Smit said the board, with the support of Tjivikua and consultant Johan Piek, will right-size the company to become market competitive as from 01 April 2017.
The chairperson added that a financial plan for the 2017/18 financial year based on board approval, integrated strategic business plan and the critical needs listed by the executive committee, will be finalised within the next month to obtain Government support.
Smit said non-core property will be sold to generate funds for capital requirements and for the right-sizing exercise, while other properties will be leveraged to generate necessary funding for operations.
He thus called for smart partnerships with the private sector to re-manufacture rolling stock and other critical services.