Whilst noting recent observations by some stakeholders concerning the appointment of Mr Daniel du Toit as the new Group CEO, the urgent priorities for the current board is to return Denel to profitability and operational sustainability.
Du Toit was appointed after a thorough, transparent and rigorous recruitment process that searched internally and externally for the most suitable candidate. Du Toit emerged as the top candidate which the Board recommended to the Minister of Public Enterprises and which was subsequently approved by the Cabinet.
The new CEO will be part of a broader team that will not only be diverse but will be truly representative of our country’s demographics.
The Denel Board is confident that Du Toit is the right person to lead Denel in the next phase to revitalise the organization and to restore confidence amongst investors, clients, partners and suppliers. Ms Monhla Hlahla, Denel Board Chairman says, “the decision to appoint Du Toit was made with our eyes open to the racial and gender imbalances in our country and in the knowledge that we are accountable to the country on the decisions we make as a board.”
Du Toit is a distinguished industry leader with wide ranging experience in the defence, technology and aerospace environments, predominantly in the private sector. During his five-year tenure at Denel, he will build on the turnaround strategy introduced by the Board in 2018 and lead the efforts to restore Denel’s position as a global technology leader and one of the top defence companies in the southern hemisphere.