TransNamib CEO search commences
TransNamib will soon start the search for a new CEO following the unceremonious exit of current NamPower board member Sara Katiti.
TransNamib board chairman Paul Smit made the announcement during the unveiling of new sulphuric tanks and locomotives in Windhoek on Wednesday. According to him, the board plans to make an appointment as soon as possible.
This follows calls by the minister of public enterprises, Leon Jooste, in December 2016 for the appointment of new CEOs at TransNamib and Air Namibia.
Hippy Tjivikua is acting as TransNamib CEO at the moment.
Said Smit: “Going forward, the core focus of TransNamib's business is bulk transport. This means that not only should our equipment and rolling stock be modernised based on the bulk freight available for transport in Namibia, but the streamlining of staff is also a critical requirement.
“However, the financial predicament the company finds itself in is a common concern. Running TransNamib unprofitably and contrary to well-established business principles cannot continue and has to change immediately.”
At a special meeting held on 23 February, the board resolved to start implementing TransNamib's business plans immediately, to appoint a CEO as soon as possible, and to appoint a chief operations officer (COO) with expertise in marketing and business development qualities shortly afterwards.
“The newly appointed CEO and COO should, as a matter of urgency, identify additional market opportunities, implement cost-saving measures, identify and address operational inefficiencies, transfer lacking skills and transform the company,” Smit said.
The new CEO should also upgrade and finalise an integrated strategic business plan within three to six months after appointment.
The board, with the support of acting CEO Tjivikua and consultant Johan Piek, will right-size the company to become market competitive from 1 April 2017 onwards.
A financing plan for the 2017/18 financial year, based on the board-approved integrated strategic business plan and the critical needs listed by the executive, will be finalised within the next month to obtain government support and arrange bridging capital from the banks, according to Smit.
He also revealed that non-core property will be sold to generate funds for capital requirements and for the streamlining exercise. “TransNamib's properties will also be leveraged to generate the necessary funding for operations,” he said.
TransNamib board chairman Paul Smit made the announcement during the unveiling of new sulphuric tanks and locomotives in Windhoek on Wednesday. According to him, the board plans to make an appointment as soon as possible.
This follows calls by the minister of public enterprises, Leon Jooste, in December 2016 for the appointment of new CEOs at TransNamib and Air Namibia.
Hippy Tjivikua is acting as TransNamib CEO at the moment.
Said Smit: “Going forward, the core focus of TransNamib's business is bulk transport. This means that not only should our equipment and rolling stock be modernised based on the bulk freight available for transport in Namibia, but the streamlining of staff is also a critical requirement.
“However, the financial predicament the company finds itself in is a common concern. Running TransNamib unprofitably and contrary to well-established business principles cannot continue and has to change immediately.”
At a special meeting held on 23 February, the board resolved to start implementing TransNamib's business plans immediately, to appoint a CEO as soon as possible, and to appoint a chief operations officer (COO) with expertise in marketing and business development qualities shortly afterwards.
“The newly appointed CEO and COO should, as a matter of urgency, identify additional market opportunities, implement cost-saving measures, identify and address operational inefficiencies, transfer lacking skills and transform the company,” Smit said.
The new CEO should also upgrade and finalise an integrated strategic business plan within three to six months after appointment.
The board, with the support of acting CEO Tjivikua and consultant Johan Piek, will right-size the company to become market competitive from 1 April 2017 onwards.
A financing plan for the 2017/18 financial year, based on the board-approved integrated strategic business plan and the critical needs listed by the executive, will be finalised within the next month to obtain government support and arrange bridging capital from the banks, according to Smit.
He also revealed that non-core property will be sold to generate funds for capital requirements and for the streamlining exercise. “TransNamib's properties will also be leveraged to generate the necessary funding for operations,” he said.
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