South African Airways released a statement on Sunday evening
confirming that it had accepted group CEO Vuyani Jarana’s resignation from the
Reports emerged of the resignation on Sunday morning, along
with a leaked resignation letter where Jarana cites inadequate funding for his
turnaround strategy as a stumbling block in efforts to turn the carrier around.
Jarana tendered his resignation to SAA board chairperson JB Magwaza in a letter dated May 29, 2019. He cited uncertainty about funding, as well as bureaucracy delaying decision making needed to turnaround the struggling airline, as reasons for his resignation.
In the statement SAA chair JB Magwaza said the airline will
continue to implement actions to reduce SAA’s cost structure and make the
airline more competitive domestically and globally.
“On behalf of the board, I would like to thank Mr Jarana for
his service and commitment to the airline. He contributed to returning
confidence and credibility to the airline. We wish him well in his future
endeavours,” said Magwaza.
Magwaza said the SAA board would immediately commence the
process of searching for a new Group CEO to take the strategy forward.
“In terms of his contractual obligations, Mr Jarana has
committed to remain until the end of August to ensure an orderly transition of
his responsibilities, which is a matter that the Board will consider,” concluded Mr Magwaza.
More to follow.