South African Airways' CEO Vuyani Jarana has resigned after less than two y...
JOHANNESBURG - South African Airways’ CEO Vuyani Jarana has resigned after less than two years in the job, saying his turnaround strategy for the loss-making airline was being undermined by a lack of state funding and too much bureaucracy.
Jarana, a former executive at telecoms company Vodacom, was appointed in late 2017 to implement a strategy to return the airline to profit and wean it off government bailouts. “The strategy is being systematically undermined, and as the Group Chief Executive Officer, I can no longer be able to assure the board and the public that the LTTS is achievable,” he said.
“We have not been able to obtain any further funding commitment from government, making it very difficult to focus on the execution of the strategy,” he added. Jarana’s resignation comes more than a week after struggling state-owned power utility Eskom said its CEO, Phakamani Hadebe, was stepping down for health reasons after leading efforts to stabilize the highly indebted state firm. Eskom has not yet stabilized.
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