https://newsletter.en.creamermedia.com
Business|Defence|Denel|Industrial|Manufacturing|Sustainable|Manufacturing |Solutions
Business|Defence|Denel|Industrial|Manufacturing|Sustainable|Manufacturing |Solutions
business|defence|denel|industrial|manufacturing|sustainable|manufacturing-industry-term|solutions

Former Denel CEO Sadik returns after eight years to be beleaguered group’s interim CEO

Talib Sadik

Talib Sadik

Photo by Creamer Media

17th August 2020

By: Rebecca Campbell

Creamer Media Senior Deputy Editor

     

Font size: - +

Financially-embattled State-owned defence industrial group Denel announced on Monday that Talib Sadik had been appointed as its interim CEO. This is the second time that Sadik, a chartered accountant (SA), has headed the group. He was Denel CEO from 2008 to 2012.

In its press release, the group stated that Sadik had been working with the Denel board in drawing up the turnaround plan for the entity. Consequently, affirmed the company, this “positions him well for a seamless transition”.

Meanwhile, the process to appoint a new permanent CEO was under way. Once a selection had been made, the name of the appointee would be made known to all stakeholders.

Board chairman (Ms) Monhla Hlahla assured all stakeholders, including employees, customers and suppliers, that the board was giving its top priority to the turnaround strategy. The aim was to establish Denel as a sustainable defence and advanced manufacturing business.

“The shareholder [government] and the board continue to find solutions to resolve the short-term challenges of the company,” further assured the group. “The board welcomes Mr Sadik into the interim role and looks forward to working with him on a successful outcome for Denel.”

The group also affirmed that its audit committee would remain properly constituted, in accordance with the Companies Act. 

Edited by Creamer Media Reporter

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 14 March 2025
Magazine round up | 14 March 2025
14th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.124 0.952s - 150pq - 2rq
Subscribe Now