Rothschild takes up position on SAA Board

STAFF REPORTER

“As part of the CEO Forum, we offered to help sort out state-owned enterprises. So, with that offer in place, it was incumbent on me to take up the appointment,” says Rothschild, former Johannesburg Stock Exchange chairman, long-time Jewish Achiever Award judge and a real mensch.

With the exit of controversial SAA chairperson Dudu Myeni, Gigaba has announced huge changes to the board. Myeni was replaced by businessman Johannes Bhekumuzi (JB) Magwaza.

Nolitha Fakude, who is on the Anglo American board, is the new deputy chairperson and a non-executive director. Five current board members have been retained.

The new non-executive directors are: Rothschild; Ahmed Bassa, an aviation industry professional; Tinyiko Mhlari, a chartered accountant and Armscor board member; and Martin Kingston, Rothschild & Co financial services firm’s CEO in South Africa and vice-president of Business Unity South Africa.

Those being retained on the board are: Swazi Tshabalala, Peter Tshisevhe, Thandeka Mgoduso, Pieter Maluleka and Akhter Moosa.

Rothschild is looking forward to taking up his position in a few days and sees it as a great challenge. “It is a challenge for the board to get to understand SAA, ensure it has a strong executive team and to guide it the right way,” he says.

Rothschild says he believes that the new SAA chief executive officer has had a stellar career at Vodacom and should be great in this position. He says the chairman of the board, Magwaza has “an excellent reputation” and he knows and respects many of those selected to the board.

“Our challenge as a board is to ensure the executive can successfully run the organisation without shareholder intervention,” he says. “To do this, we have to understand the industry and all its nuances. Also, we will find out what talent we have and where the challenges are. All this will come with a proper induction, which will happen on November 3.

“If I judge by the many, many messages I have received, people see this new board as a ray of hope,” says Rothschild. “SAA deserves a strong board who are willing to give of their time and effort to guide the operational team. It is possible to turn things around for SAA.”

Using the example of Aeroflot, which he says people would dismiss when they heard its name, is now a top brand in the world. “So, it can definitely happen.

“Despite all the negativity around SAA, it still has excellent staff and people are happy to fly on its planes. Our challenge is to make sure people want to fly SAA before any other airline and to make it profitable.”

Rothschild says he is excited to be a part of a process of contributing to the greater good of this country.