TRANSNET SOC LIMITED - Transnet SOC Limited: Appointment of Transnet Executives

Transnet SOC Limited: Appointment of Transnet Executives

Transnet SOC Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1990/000900/30)
Issuer Bond Code: BITRA
("Transnet", "the Company" or the "Issuer")


APPOINTMENT OF TRANSNET GROUP CHIEF EXECUTIVE, GROUP CHIEF FINANCIAL OFFICER AND RAIL CHIEF EXECUTIVE

The Board of Transnet SOC Ltd. (Transnet) is pleased to announce the appointment of a
dynamic and experienced leadership team for the company. The appointments bring
leadership stability and add new impetus to the timely implementation of the Transnet
Recovery Plan and the Freight Logistics Roadmap.

The announcement follows a rigorous recruitment, search, interview and assessment process,
in which Transnet utilised the services of Executive Search Companies, concurrently with
internal and external recruitment processes. This was done to protect the integrity and
independence of the process.

The interview process included Transnet Board Members and Industry Experts. All these
procedures were performed in a fair and transparent manner, ensuring the smooth running
of the process through constant communication with all stakeholders involved in the process.
The Transnet Board of Directors made recommendations to the Minister of Public Enterprises,
in line with the Memorandum of Incorporation, resulting in the following three seasoned
leaders being appointed:

• Ms Michelle Phillips as Group Chief Executive – effective from 1 March 2024.
• Ms Nosipho Maphumulo as Group Chief Financial Officer- effective date, to be confirmed.
• Mr Russell Baatjies as Chief Executive: Transnet Freight Rail – effective from 1 March 2024.


Ms Michelle Phillips| Group Chief Executive (Executive Director)

Adv. Michelle Phillips has been acting in the Group Chief Executive role since the departure of
the previous incumbent. She was appointed as Chief Executive of Transnet Pipelines in August
2020, after serving as the Acting Chief Executive of Transnet Port Terminals. During her
tenure, she built strong relationships with employees, industry stakeholders and organised
labour.

Michelle has more than 21 years' experience in Transnet and has progressed through the
ranks in the organisation, after starting her career as a Legal Advisor for the Transnet Port
business. She has a proven track record in business and operations improvement initiatives.
At TPT, Michelle formed part of the NAVIS TOS implementation team at Pier 1 Container
Terminal in 2006 and went on to become the Terminal Manager of the first RTG Container
terminal in South Africa. She has demonstrated experience in many facets of the Transnet
operations, including Legal, and Business Development.

Michelle holds the following qualifications and certificates:

      • B Juris, Majoring in Company and Family Law: Nelson Mandela University
      • Bachelor of Laws - LLB, University of Port Elizabeth
      • Transnet Woman in Operations Management Programme
      • Gordon Institute of Business Science - Global Executive Development Leadership
        Programme
      • IMD - Breakthrough Programme for Senior Executives; and
      • Certificates in International Terminal Operations Management Programmes from
        Antwerp, Rotterdam, Paris and Le Havre.


Nosipho Maphumulo| Group Chief Financial Officer (Executive Director)

Nosipho is joining Transnet from Eskom Rotek Industries. She is a highly accomplished
business leader, financial steward, operational strategist, change catalyst and trusted advisor,
with extensive public and private sector experience, providing sound financial and commercial
guidance in complex and demanding environments.

She has demonstrable experience in financial management in large complex commercial
organisations like Eskom and Concor Holdings and subsidiaries. This includes a strong
understanding of the Public Finance Management Act (PFMA) and National Treasury
processes. Furthermore, she has experience in managing a variety of stakeholders, inter alia,
different levels of government, parliament, regulatory organisations, employees and labour
unions. She is results-driven, technically and commercially savvy, with an exceedingly high
technical aptitude.

Nosipho holds the following qualifications:
        • B Admin in Accountancy/ Economics - UNISA
        • Higher Diploma in Education - UKZN
        • B Compt Honours/CTA - UNISA; and
        • Registered Chartered Accountant - SAICA


Russell Baatjies| Chief Executive: Transnet Freight Rail (TFR) (Not a member of the Transnet board)

Russell is a seasoned professional with a distinguished career at Transnet. His journey, from
the shop floor to executive leadership reflects his hands-on experience at all organisational
levels, fostering valuable networks across several operating divisions thereby contributing to
his technical and professional development. He has held the role of Acting General Manager
Rail Network Planning and Projects: Interim Infrastructure Manager since March 2023, and
has recently stepped into the role of Acting Chief Executive at TFR.

In his pivotal role as the Head of the Operations Control Centre (OCC) department within the
TFR Iron Ore and Manganese (IOM) Business Unit, Russell played a fundamental role in the
heart of Transnet rail operations. His responsibilities included bridging gaps between rail
operations and functional/support departments, demonstrating a deep understanding of
complex operational and technical environments. As the General Manager: Iron Ore and
Manganese, he drove the introduction of innovative logistics solutions in the Saldanha rail
corridor expanding export capacity for the high-value Manganese sector whilst concurrently
optimising rail capacity and asset utilisation.

Russell's previous experience includes working for the Transnet Engineering (TE) business
where he was responsible for the full TE locomotive maintenance in the Western Region to
achieve TFR's availability and reliability targets required to deliver contracted rail volumes.

As the Managing Executive of the Cape Corridor, Russell fortified his foundation in successfully
driving rail operations. His executive experience in charge of the IOM Unit adds depth to his
leadership profile, showcasing his ability to navigate the complexities of the rail industry. He
has led the achievement of the long-term strategic objectives of the Cape Corridor, the largest
geographical footprint in TFR, with full accountability for all aspects of rail operations and rail
network infrastructure maintenance.

Russel holds the following qualifications:

         • Northern Cape Technical College - National Diploma in Engineering
         • Central University of Technology - BTech Business Administration; and
         • Glasgow Caledonian University - BSc (Honours), Rail Operations Management.

The Board congratulates the new executives, and believes they offer an excellent set of
leadership skills to accelerate the implementation of our initiatives to turn around Transnet's
operational and financial performance, while ensuring that the company continues to be a
valued partner to its customers.

The Board further wishes to thank Ms Hlengiwe Makhathini, who has acted in the Group CFO
position since October 2023, for her dedication and commitment in holding the fort during this
period of transition in the organisation. She will return to her position of GM: Corporate
Finance.

Chairperson of the Transnet Board, Mr Andile Sangqu says: "With the support of the
Shareholder, the Board and key stakeholders, the new leadership team is fully equipped to
drive transformative change, enhance operational efficiency, and restore Transnet to its
rightful position as an enabler of economic growth and development.

"The Board welcomes the stability and certainty provided by the conclusion of the
appointments, as it means Transnet can focus fully on driving implementation of the Recovery
Plan, for the sustained improvement in the operational and financial performance of the
company," concludes Mr Sangqu.

Meanwhile, the recruitment process for a Group Chief Operations Officer (COO) is underway.
The creation of the COO role is set to put Transnet on a better trajectory by ensuring optimal
streamlining and coordination of the organisation's various operations.


Johannesburg

29 February 2024

JSE Debt Sponsor

Absa Corporate and Investment Bank (a division of Absa Bank Limited)

Date: 29-02-2024 05:39:00
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