CAPE TOWN – The financially bleeding South African Airways (SAA) has appointed Vodacom Business CEO Vuyani Jarana as its CEO.
Jarana is to commence his duties once Vodacom releases him.
He has held his position at Vodacom since 2012.
During his tenure, he transformed Stortech, a 51-percent subsidiary of Vodacom, from being a declining business to a growing company, changing its share-holding structure and developing a new strategy that responds to the changes in the market.
Finance Minister Malusi Gigaba congratulated Jarana on his appointment.
“Given that Mr Jarana has turned around a loss-making subsidiary of the Vodacom Group, Vodacom Business Africa, into profitable and growth business, we believe he will be key in turning around SAA.”
This is the airline’s first permanent CEO since November 2015.
Last month, the airline received another bailout, of about R2.3-billion, with no stringent conditions attached.