Cabinet has approved the appointment of Mark Barnes as group CEO of the Post Office on Thursday.
Barnes has been appointed for a five-year period, starting from 15 January 2016. There is expected to be a handover from Trevor Ndlazi, who was appointed as acting group CEO in October.
Barnes graduated from UCT with an honours degree in actuarial science and attended Harvard Business School. He is also the single biggest shareholder and executive chairman in investing and trading solutions company Purple Group.
He also has leadership experience in financial services at Standard Bank, Capital Alliance and Brait, according to the Purple Group website.
Barnes said he sees the Post Office as “delivering more than just letters” as he plans to evolve its role in the Internet age. He also sees the Post Office as standing on its own two feet.
“I expect to see evidence of a turnaround strategy probably within six to 18 months and then in three years’ time I would hope that we have an established different way of doing business,” Barnes said.
“My case is not built on a government bailout, my case is built on the Post Office bailing itself out,” he said.
Meanwhile, telecommunications & postal services minister Siyabonga Cwele said that Barnes’s appointment is expected to solidify the Post Office’s top leadership
“This stable leadership will help the board to implement the strategic turnaround plan that was approved by cabinet in June this year. In August, cabinet approved the appointment of the current board. I believe the board is capable and needs an equally capable management team to turn the Post Office around,” said Cwele.
The ministry is also engaging with national treasury “to find ways of investing in the Post Office”, said Cwele.
Cost-cutting and cost-containment measures have also been implemented at the Post Office with “onerous contracts” having been cut, added the minister. — Fin24
