Business and Technology

Talib Sadik appointed as Denel interim CEO

Denel has appointed board director, Talib Sadik as interim CEO. His appointment follows the resignation of Danie du Toit, after less than two years in the job.

The state arms manufacturer has been struggling to pay staff due to a liquidity crisis worsened by the COVID-19 pandemic.

Denel

Du Toit has not given a reason for resigning, but in a recent interview with Reuters, he said the company might not survive the next few months unless it gets a government bailout.

Sadik acted as Denel chief executive between 2008 and 2012. The recruitment of a permanent CEO is currently underway.

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Source: eNCA