Denel has appointed William Hlakoane as the acting Group Chief Executive Officer, effective from today.
This comes after Talib Sadik's contract ended, the State-owned company announced on Monday.
Hlakoane, who is currently the Chief Operating Officer, is a mechanical engineer by trade, with an MBA from Milpark Business School.
"His appointment allows for a seamless transition into the role. He has a wealth of experience in the manufacturing sector, backed by a solid career track record that adds value to Denel," the company said.
Denel has described him as an experienced executive in operations management with in-depth technical abilities, project management and business development.
Board chair, Monhla Hlahla, has since thanked the outgoing Sadik for the enormous value he has added over the years, especially in his acting period.
Hlahla has assured employees, suppliers, customers and all stakeholders that while the board is dealing with the difficult financial challenges facing Denel, the focus remains on the business turnaround towards sustainable growth and profitability.
"The board welcomes Mr Hlakoane as the interim Group CEO and looks forward to working with him on a successful transformation of Denel," said Hlahla.
Meanwhile, the entity said the recruitment process of the permanent CEO is underway and the appointment will be communicated to all stakeholders in due course.