SAA chairman ousted in board change

SAA chairman Dudu Myeni will leave the state-owned airline in a shake up of the board before the arrival of the new CEO, according to people familiar with the matter. Myeni, who is friends with South African President Jacob Zuma and heads his charitable foundation, is the most prominent of a number of directors to be replaced by the National Treasury on Thursday, said the people, who asked not to be identified as the moves haven’t been announced. Deputy Chairman Tryphosa Ramano, also CFO of cement maker PPC Ltd, is among those to be ousted, one of the people said. “I do not respond to cabinet leaks,” said Yunus Carrim, chairman of Parliament’s finance committee and an African National Congress lawmaker. Myeni has overseen the unprofitable airline as it struggled under a series of temporary leaders, and the finance ministry was forced last month to bail out the carrier to avoid it defaulting on a $221m loan. Vuyani Jarana will start as a permanent CEO on Nov. 1, and the former Vodacom Group Ltd. executive has pledged to reassure the airline’s lenders that the carrier can return to profit for the first time since 2011.<br/>