Denel CFO on special leave

Odwa Mhlwana, Denel CFO, has been placed on special leave pending a disciplinary investigation.

South African arms manufacturer Denel has placed its group CFO, Odwa Mhlwana, on special leave effective 18 June, pending a disciplinary process into allegations of misconduct against him. Mhlawana, a CA, was appointed CFO of Denel in 2017. 

The company said in a statement that the board had taken the decision to create a “conducive environment” for the “verification process” in respect of the allegations made. It said:

“The verification process will include interviews with Mr Mhlwana’s colleagues, such that putting him on special leave is also in the interests of fairness to him, his colleagues and Denel.”

Mhlwana’s special leave is effective from 18 June, until such time as the disciplinary process is completed. An independent chairperson will preside over the process, which should be complete by end July.

Pictured: Pravin Gordhan