State-owned arms utility Denel announced on Monday that it has appointed Carmen le Grange as its new group chief financial officer, saying she will help improve its culture of corporate governance.
Le Grange's appointment comes 10 days after the cash-strapped state arms manufacturer was granted a R1.8 billion lifeline.
She will oversee the financial affairs of the group, and work on improving Denel's audit results, financial systems and capability.
In a statement, Denel group CEO Danie du Toit said le Grange's appointment comes as the group is beginning to see improvements in corporate governance. Government’s recent decision to recapitalise the organisation will put Denel on a sustainable growth path, he said. He described her as a "seasoned chartered accountant".
"We expect Ms Le Grange to play a leadership role to further stabilise Denel's finances and implement the measures introduced by the Board to improve performance and restore confidence in the future of the company among stakeholders, partners and suppliers," said du Toit.
According to Denel, le Grange worked as a partner at PwC for more than a decade before founding an advisory consulting practice.
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