Issued by: Transnet
DR ANTON MOOLMAN, MANAGING DIRECTOR, TRANSNET
5 July 1996
1. I have today reached an agreement with the Board of Transnet that, shortly after my 59th birthday, I will be retiring as Managing Director on 31 August. Until that date I will mainly focus on handing over my responsibilities.
2. Reasons:
2.1 Since I firmly believe that a chief executive should not remain in this position for too long, I indicated, when I assumed the position of Managing Director some eight years ago, that I more or less wanted to retire at this stage.
2.2 I was not only privileged to have had the opportunity to establish Transnet as a company, but to drive it to success during the first six years. In the process profit increased to more than R1 500 million, several unprofitable divisions were turned around and the Pension Fund deficit improved dramatically.
2.3 It is clear that the appointment of Executive Directors not only initiated a phase of restructuring, but of total transformation. Just like I had the privilege to establish and build Transnet, my successor should also have the privilege and challenge to lay the foundation for a transformed organisation and to lead it into the next millennium. With the appointment of the last Executive Director, a new executive structure is now in place to drive restructuring and transformation, a phase in which I clearly can play a very limited role.
3. I have therefore decided that, after 37 years of service in Transnet, it is time to depart. Transnet has provided me with wonderful opportunities and a fulfulling career during which I could fully realise my principles. Transnet's employees and my colleagues are truly unequaled. I wish them well for the future.
Issued by Group Corporate Communication.
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