SAA CFO Wolf Meyer resigns

Wolf Meyer, chief financial officer of South African Airways (SAA) has resigned. The announcement follows allegations of financial disputes between Meyer and the company's board of directors, as well as a reported breakdown of trust.

  • Earlier this year Wolf Meyer smuggled a voice recorder into a board meeting. Read the story here.


According to reports, Meyer (pictured left) tendered his resignation to the board earlier this week. It was accepted immediately. A search for his replacement has started, though the board has indicated it may appoint an external accounting firm in the interim, to provide financial advice and services.

Meyer has been SAA CFO since June 2011. Prior to that he was CFO at Land Bank for two years, and before than CFO of Brait South Africa for five years.

Meyer's resignation follows in the wake of a recent pilots' meeting where the majority voted in favour of a motion of no confidence in SAA board chairperson Dudu Myeni (pictured right) and the board directors.

 

SAA Pilots Association chairman, John Harty, said in a statement:

 

"It is hoped that this vote will serve as a clarion call to (Finance Minister Nhlanhla) Nene and the government that the future of SAA requires immediate and urgent attention."

Myeni dismissed this as a ploy to discredit her, as did the SA Transport and Allied Workers Union (Satawu).

  • Stay connected, up to date and in the loop on what is happening in the world of finance and keep track of newly published expert insights and interviews with CFOs and CEOs. Become an online member and receive our newsletter, follow us on Twitter, like us on Facebook and join us on LinkedIn.