Transnet appoints Portia Derby as new group CEO

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State-owned freight and rail company Transnet has appointed Portia Derby as its new Group CEO.

The former Director-General of the Department of Public Enterprises succeeds Siyabonga Gama who was fired in October 2018 following a legal battle with the Transnet board.

Gama was implicated in the irregular procurement of more than 1000 locomotives through a contract that escalated from an initial R38.6-billion to more than R54-billion.

In a statement Transnet says she will work with the board, management and other stakeholders to rebuild an institution that was severely affected by state capture and large-scale corruption.