Executive Insights

All the big SA companies that are currently looking for CEOs - including the Post Office and Postbank

Business Insider SA
  • After the SA Post Office's Mark Barnes resigned this week, at least eight major South African companies are now looking for new CEOs. 
  • Several vacancies are set to be filled by the end of October when former CEOs notice periods come to an end. 
  • For more stories, go to Business Insider SA.

The Post Office is the latest South Africa company looking for a new chief executive officer (CEO) after Mark Barnes resigned from the state-owned enterprise on Tuesday. 

The Post Office said Barnes, who served as CEO for three and a half years, left the organisation over differences on the company’s strategy, in particular around the Postbank.

A number of other large South African companies - including at least five state-owned enterprises  - are now looking for new  CEOs.

Many of the vacancies are set to be filled within the next two months when the notice periods of their former CEOs come to an end. 

Business Insider South Africa made a list of all the major South African companies currently looking for new CEOs and where replacements have not yet been announced.

Absa Bank 

Former CEO Maria Ramos retired without a successor from Absa Bank in February after nearly a decade at the bank.

René van Wyk was appointed as the interim CEO.

Absa said it will announce a new CEO by the end of August. 

Tourism South Africa 

The board of Tourism South Africa suspended Sisa Ntshona in April after receiving anonymous tip-offs about unspecified allegations.

The board said it suspended Ntshona to conduct a fair investigation into the accusations.

Sthembiso Dlamini was appointed as acting CEO.


The Nuclear Energy Corporation of South Africa (Necsa) has been without a CEO since May when Phumzile Tshelane was fired after being found guilty of misconduct.

Tshelane was found guilty of breaches around, among other things, having signed a nuclear cooperation agreement with Russia without the approval of then energy Minister Jeff Radebe.


Phakamani Hadebe resigned as Eskom CEO in May. The former Land Bank CEO said he resigned because the position held “unimaginable demands” which had a which negative impact on his health.

State-owned Eskom is in the process of being unbundled by the department of public enterprises.

Hadebe is set to leave the embattled power utility at the end of July 2019, and chairperson Jabu Mabuza has been appointed interim-CEO


South African Airlines (SAA) CEO Vuyani Jarana resigned in June. In his resignation letter Jarana complained about the uncertainty surrounding funding and the slow pace of decision-making which were delaying the airline's turnaround strategy.

Jarana agreed to serve a notice period until the end of August.

The National Union of Metalworkers of SA (Numsa), the largest trade union in South Africa, has called for Jarana to be reinstated. 

Old Mutual 

Old Mutual suspended and then fired CEO Peter Moyo in June over an argument about his involvement in an investment holding company. The board blamed a breakdown in trust and confidence for his dismissal.

But in court papers, Moyo said he was let go before he objected to the board about the "improper non-disclosure of a payment amounting to millions of rand, which was paid by Old Mutual in respect of [chair Trevor Manuel's] legal fees for his much-publicised legal battle relating to the Guptas and their associates".

The High court has since ordered that Moyo be reinstated with immediate effect, but Old Mutual has filed a notice to appeal and maintains this suspends the implementation of the court order and Moyo cannot report for duty – suggesting that the company still hopes to find a different CEO.


TymeBank CEO Sandile Shabalala resigned due to “personal reasons” at the end of June after serving in the position for three years.

TymeBank launched in February and is on track to have 500,000 clients by the end of July, but requires roughly 1.8 million clients to break even. 

South Africa Post Office 

The South Africa Post Office is looking for a new CEO. Mark Barnes resigned after three and a half years at the helm.

The SA Post Office said Barnes resigned over differences on the future strategy relating to the structure of the SA Post Office group and in particular the location of Postbank.

It commended Barnes for stabilising the organisation and pioneering the positioning of the Post Office as a "relevant access point" for government services in communities.