CFO Award received by former Transnet CFO Garry Pita suspended

The decision by the organisation and the judging panel follows legal action by Transnet.

The organisation of the annual CFO Awards in South Africa has suspended the Transformation & Empowerment Award 2017 received by former Transnet CFO Garry Pita, until further notice. CFO South Africa has done this in close consultation with the current panel of judges.

The organisation and the panel made this decision after Transnet announced legal action against Garry. The award can be reinstated if a court or official commission of inquiry clears Garry of all charges. The award can be permanently revoked if a court judge or official commission of inquiry finds him guilty.  

This decision is at the discretion of the panel of judges and CFO South Africa.

Background
The annual CFO Awards recognise CFOs of listed companies, large corporations, state-owned entities and government institutions and awards them for outstanding performance and leadership.

Winners of CFO Awards are decided through an independent voting process, by an eminent panel of experts. To be able to cast these votes, the panel conducts two-hour interviews with all nominees and collects other relevant information.

The judges for the CFO Awards are extremely experienced in the field of business and finance and are highly regarded by the CFO community. The panel consist of industry leaders working for South Africa's leading universities, banks, advisory, IT and law firms, as well as former CFO Awards winners.

Integrity of the awards
Integrity and ethical conduct are crucial assets of good leaders. CFO Award winners need to be role models and shining lights of excellence. In this light, CFO South Africa reserves the right to publicly suspend or revoke CFO Awards. This will happen, in consultation with the panel judges, if information about a CFO Awards winner becomes available that is damaging to the stature and integrity of the CFO Awards.

For any enquiries, please contact CFO South Africa MD Graham Fehrsen at [email protected]