Denel gets new CFO and CEO

The Department of Public Enterprises recently announced two executive-level appointments at state arms company Denel: Odwa Mhlwana as the new group CFO and Zwelakhe Ntshepe (pictured) as the new group CEO.

Mhlwana, a CA, previously served as group FD of Denel's subsidiary Denel Vehicle Systems (DVS) - then known as Land Systems Africa (LSSA). Meanwhile, Ntshepe, who has been with Denel for more than 20 years, was the Denel group executive responsible for business development and corporate affairs, prior to acting as group CEO.

The department says that while Ntshepe was acting group CEO, the order book grew to over R35 billion, while company revenue grew from R3.5 billion in 2012 to more than R8 billion in the previous financial year.