Minister of Public Enterprises, Pravin Gordhan, announced the appointment of Michelle Phillips as the CEO of Transnet, along with Nosipho Maphumulo as the group CFO, signaling a strategic move to revitalize the state-owned company.
Phillips, a seasoned Transnet veteran with over 20 years of experience, previously served as CEO of Transnet Pipelines and took on the role of acting CEO following a series of high-level resignations in the previous year.
Business Leadership SA (BLSA) CEO, Busisiwe Mavuso, expressed relief and elation at Phillips’ appointment, emphasizing the strong collaboration between Phillips and the business community during her tenure as acting CEO. Mavuso highlighted Phillips’ understanding of the importance of partnership between government and business in driving Transnet’s turnaround efforts.
Similarly, CEO of Business Unity SA, Cas Coovadia, welcomed Phillips’ appointment, citing her commitment to collaboration with the private sector to initiate reforms at Transnet. Coovadia emphasized Phillips’ stance on increasing private-sector participation within Transnet as a positive sign for the company’s future.
Phillips faces the formidable challenge of steering Transnet through financial difficulties and implementing extensive reforms, including enhancing private-sector involvement to improve port and rail services. The National Treasury has provided Transnet with substantial financial support, but no bailout was allocated in the 2024/25 budget, highlighting the urgency of Phillips’ task ahead.
