Carmen’s resignation follows a series of Denel board members also stepping down.
Denel has announced that Carmen le Grange has resigned as its group CFO. Her last day will be on 27 March.
Her resignation follows a handful of board members also leaving Denel, including the board chair.
Carmen was appointed as the group CFO in September 2019 after previous CFO Odwa Mhlwana was fired in 2018. At the time, the company’s turnaround strategy had started delivering results and CEO Danie du Toit said that Carmen would play a leadership role to further stabilise Denel’s finances.
Carmen was very excited about the opportunity to be part of the Denel leadership team, and was looking forward to assisting to build a highly credible finance function and team.
Carmen served as a partner at PwC for more than a decade before founding an advisory consulting practice of her own. Before joining Denel, she served as the CEO of Power Infrastructure & Engineering and Lincoln Advisory respectively.