South African Airways names CFO to replace suspended Nhantsi

SAA appointed Old Mutual veteran Bob Head as interim CFO to replace the suspended Phumeza Nhantsi as the embattled state carrier strives to turn around its fortunes. The former head of insurer Old Mutual’s southern Africa operations was one of seven appointments announced by SAA Thursday. Under new Chief Executive Officer Vuyani Jarana, the airline has set a three-year recovery plan, which includes cutting routes, flights and planes, having failed to make a profit since 2011. Head will fill the gap left by Nhantsi, who is facing a disciplinary hearing alongside ex-CEO Musa Zwane following unspecified allegations made against them. Their departures came as new President Cyril Ramaphosa pledged to clean up state-owned entities that have been embroiled in allegations of mismanagement and corruption. <br/>