Grintek has confirmed that its CEO, Shaun Liebenberg, has resigned to take up the post of CEO designate at Denel.
Although the resignation is with effect from 15 April, the group says Liebenberg`s employment will continue "until such time as all the operational issues pertaining to his departure have been dispensed with".
Liebenberg`s appointment at state-owned arms company Denel comes despite denials by both the Department of State Enterprises and Denel earlier this week that a board reshuffle at that company was in the offing.
Reuters reports that Public Enterprises Minister Alex Erwin said this morning that current Denel CEO Victor Moche would step down at the end of next month as part of a strategy to turn the ailing Denel around.
He also confirmed speculation during the week that Liebenberg would replace Moche.
For the year to March 2004, Denel incurred a net loss of R377.5 million, compared with a R72.6 million loss the previous year.
Liebenberg was appointed Grintek CEO in January last year to replace Sybrand Grobbelaar, who was retiring. Before that, Liebenberg was business solutions director at Dimension Data.
He has also been MD of Plessey
Share