Embattled Denel moves to appoint key executives

Denel, the State-owned armaments manufacturer whose primary mandate is to equip South Africa's armed forces, says it is appointing an executive team to lead the organisation and bolster its efforts to improve governance, restructure and stabilise the organisation to fulfil its mandate. On Wednesday Gloria Tomatoe Serobe, the interim chair of Denel, told Parliament's Standing Committee on Public Accounts (Scopa) that the process to appoint a group chief executive, a chief financial officer (CFO) and a chief audit executive would be completed during the current financial year.