defenceWeb Written by defenceWeb - Carmen la Grange. Denel said on Monday that Chief Financial Officer Carmen le Grange had resigned, extending a series of resignations that has deepened a crisis at the struggling firm. The company did not give a reason for the resignation. It depends on government bailouts and has faced liquidity problems that have been aggravated by the COVID-19 pandemic. Denel’s board chair Monhla Hlahla resigned last week, in the same week that the company announced that a handful of other members of the board of directors had departed. “The Board wishes to thank Ms le Grange for her valuable contributions during her tenure as financial director of Denel,” Denel said in an announcement on the Johannesburg bourse on Monday.