SA-JET
Topic Author
Posts: 280
Joined: Wed May 24, 2000 7:51 am

SAA CEO Resigns

Tue Jul 06, 2004 4:58 am

news24.co.za reports that SAA CEO Andre Viljoen has resigned, with immediate effect. Any thoughts? This follows just 2 years after the dramatic departure by then CEO Coleman Andrews.
 
canuckpaxguy
Posts: 1482
Joined: Sat Sep 06, 2003 2:31 pm

RE: SAA CEO Resigns

Tue Jul 06, 2004 11:44 am


I thought Mr. Viljoen was well regarded as a good CEO. I heard he was doing a pretty good job...The fleet renewal, the back to basics scheme, sales and profitability growing, etc....

Any news on what the problem is?

G
 
SA7700
Posts: 2936
Joined: Thu Dec 18, 2003 9:38 pm

RE: SAA CEO Resigns

Tue Jul 06, 2004 4:04 pm

There are no comments thus far, only speculation.

IMMHO it may be political. Government was not all too happy about the hedging losses SAA made. Then again, who would really have thought that the ZAR (South African Rand) would appreciate this much in the past year?

Rgds

SA7700
When you are doing stuff that nobody has done before, there is no manual – Kevin McCloud (Grand Designs)
 
JGPH1A
Posts: 15080
Joined: Thu Aug 14, 2003 4:36 pm

RE: SAA CEO Resigns

Tue Jul 06, 2004 4:42 pm

That's a shame - it seemed like he was doing a good job. Let's hope they put an airline man in to replace him, and not a government or Transnet stooge.
Young and beautiful and thin and gorgeous AND BANNED ! Cya at airspaceonline.com, losers
 
planenutz
Posts: 1156
Joined: Fri Dec 31, 1999 5:50 am

RE: SAA CEO Resigns

Tue Jul 06, 2004 4:52 pm

It appears that the hedging issue is what prompted his departure.

From The Indepentant Online:

Viljoen resigns from helm of SAA
July 06 2004 at 12:33AM

South African Airways president and chief executive officer Andre Viljoen has resigned - although his contract had been due to end only in 2006.

Viljoen's resignation would be effective from August 31, the SAA board said on Monday.

Acting board chairperson Tshidi Mokgabudi said: "Mr Oyama Mabandla, currently Deputy CEO, has been appointed acting chief executive from September 1, 2004."

Mabandla was appointed last year after a restructuring of SAA's management. He was expected to take over from Viljoen when his contract ended.

Mokgabudi gave no reasons for the resignation of Viljoen, who replaced Coleman Andrews as CEO in 2001.

SAA spokesperson Onkgopotse JJ Tabane said that Viljoen had been contracted to the airline until 2006.

There was speculation Viljoen would have to step down early as CEO after the heavy losses SAA suffered in a R6-billion hedging loss.

The loss was revealed in SAA's 2002/2003 financial results and saw the government having to issue a R3,5-billion guarantee to lenders.

However, at the time it was SAA chief financial officer Richard Forson who was the fall guy, resigning suddenly in October 2003.

Democratic Alliance spokesperson for public works Ian Davidson said: "It will be a great loss to SAA. He was at the helm when SAA was turned around from a loss maker to - although still a loss maker because of the hedging offers - at least an operationally profitable airline." - Sapa

http://www.iol.co.za/index.php?set_id=1&click_id=594&art_id=qw1089066783516B253
Not all who wander are lost....
 
SA7700
Posts: 2936
Joined: Thu Dec 18, 2003 9:38 pm

RE: SAA CEO Resigns

Tue Jul 06, 2004 4:58 pm

JGPH1A

Apparently the current deputy CEO, Mr Oyama Mabandla, has been appointed as acting CEO from 1 Sept 2004.

I don't know anything about this guy; what kind of experience he has, etc. Maybe some of the other A.netters can shed some light on the issue.

Rgds

SA7700
When you are doing stuff that nobody has done before, there is no manual – Kevin McCloud (Grand Designs)
 
backfire
Posts: 3467
Joined: Fri Oct 06, 2006 8:01 am

RE: SAA CEO Resigns

Tue Jul 06, 2004 5:03 pm

Mabandla comes from a Swiss merchant bank background.
 
CX Flyboy
Posts: 6040
Joined: Sun Dec 26, 1999 6:10 pm

RE: SAA CEO Resigns

Tue Jul 06, 2004 9:29 pm

So is the new CEO going to decide he prefers 737-800s to the recently ordered A320s?
 
JGPH1A
Posts: 15080
Joined: Thu Aug 14, 2003 4:36 pm

RE: SAA CEO Resigns

Tue Jul 06, 2004 9:32 pm

I doubt it - I think various offset deals were reached with Airbus for SA-based companies like Denel, so I think its pretty much a done deal.
Young and beautiful and thin and gorgeous AND BANNED ! Cya at airspaceonline.com, losers
 
andz
Posts: 7627
Joined: Mon Feb 16, 2004 7:49 pm

RE: SAA CEO Resigns

Wed Jul 07, 2004 6:43 am

This stinks of political interference.
After Monday and Tuesday even the calendar says WTF...
 
SpringbokUSA
Posts: 27
Joined: Wed Jul 07, 2004 12:39 pm

RE: SAA CEO Resigns

Wed Jul 07, 2004 1:27 pm

It sure does! Mr. Viljoen's departure from SAA spells even more trouble for Africa's warmest welcome.......