New Denel board faces tough turnaround task as financial pressure mounts

Public Enterprises Minister Pravin Gordhan recently announced the completely new, high-powered, Board to turn-around beleaguered State-owned defence industrial group Denel. Technically, it is currently an interim Board, he explained, because it had not yet been approved by the Cabinet. He described the appointment of the new Board as part of the actions by the new administration of President Cyril Ramaphosa to restore State-owned Companies (SOCs).