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The appointment of a seasoned chartered accountant as the new Group Chief Financial Officer will strengthen Denel’s management team and contribute towards a strong culture of corporate governance.

Ms Carmen le Grange joins Denel this week and will also serve on the Board of the state-owned company. In her new position, she will oversee the financial affairs of the Denel group, play a critical role in improving audit results, financial systems and capability. Also working closely with the Auditor General of South Africa and the investor community.

Danie du Toit, the Group CEO of Denel, says Le Grange is joining the company at a time when its turnaround strategy is starting to deliver results. There have been huge improvements in corporate governance and government’s recent decision to recapitalise the organisation will put Denel on a sustainable growth path.

“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.

She joins Denel after a distinguished career in both the private and public sectors. A chartered accountant and graduate of the University of Natal she served as a partner at PricewaterhouseCoopers for more than a decade before founding an advisory consulting practice.

She also serves on the audit committee of the Department of Tourism and on the education and transformation committee of the Independent Regulatory Board for Auditors.

Du Toit says she joins a capable and highly committed leadership team to take Denel forward in the next phase of its growth. This follows the recent appointment of Mr Sello Ntsihlele as CEO of Denel Dynamics and Mr Mxolisi Makhatini as head the Landward division.

Issued by DENEL