LIMUSA calls for the resignation of DENEL’s CEO

SABC News Danel CEO 1 - LIMUSA calls for the resignation of DENEL’s CEO

The Liberated Metalworkers Union South AfricaMetal (LIMUSA) is calling for the resignation of DENEL‘s Group Chief Executive Daniel du Toit, after the arms manufacturer notified its employees that they would receive only 85% of their salaries for June.

Public Enterprises Minister Pravin Gordhan on Tuesday announced that a lender has come to the assistance of DENEL, and the rest of the salaries will be paid by Friday.

LIMUSA says DENEL’s challenges are self-inflicted.

LIMUSA’s Deputy General Secretary Mawonga Madolo says Du Toit who was appointed in January has failed to put into effect a turnaround strategy for the firm.

“It is self-inflicted on the part of the Board and the executive. During these five months, Mr. Du Toit has effectively received over 1.5 of bonuses. He has effectively received over 600 000 of relocation fees. In our view, there has been a lack of priority on the part of DENEL, wasteful expenditure on the part of the Board, and that is why we are making the call because Du Toit has failed to effect a turnaround strategy that he was given to effect in the past five months, which has led to workers not having their income for the month.”

Click on the videos below: 

The post LIMUSA calls for the resignation of DENEL’s CEO appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Leave a Reply

Your email address will not be published. Required fields are marked *