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Johannesburg - Eskom has struck its first blow intended to show recent board ructions are a thing of the past by unveiling a newly-appointed finance director.
Eskom said on Thursday that former Group Five chief financial officer Paul O'Flaherty will take up his duties as finance director from January. Group Five is a construction firm.
A new human resources director has also been appointed by the electricity utility. However, it said it could not yet disclose the identity of the incumbent. "He's still employed elsewhere," said chairperson Mpho Makwana on Thursday. "Yes, a letter of appointment has been accepted by the person."
Before assuming the chairperson's role this week, Makwana was chair of Eskom's human resources board committee, which made the appointments.
O'Flaherty's appointment was supposed to be announced weeks ago, but it was interrupted by the boardroom tussle between former CEO Jacob Maroga and former chairperson Bobby Godsell, said Eskom insiders. O'Flaherty currently works in Dubai.
The two appointments leave only the CEO's seat vacant in the executive committee. Makwana has vowed to fill it within 90 days.
"The intent is to conclude it in 90 days," said Makwana when asked if it was possible to find a CEO in that time. "The search is on right now. It can be done." An executive search firm has been engaged to cast the net far and wide.
As executive chairperson for the next six months, Makwana said his job was to find a CEO "as soon as possible", and to bring stability to Eskom.
Asked if the board had a certain candidate in mind, Makwana said Eskom's succession plan was that there would always be two other people who could fill a position. "But the job won't automatically go to anyone. They must compete with others and be tested."
Makwana also elaborated on Maroga's exit, adding that a CEO who was not aligned with the board was unable to function.
"There was no alignment between him and the board," said Makwana. He said both Maroga and Godsell presented different forward-looking visions for the company, and both offered to resign if their plans were unacceptable to the board. "The board chose to go with the chairperson," said Makwana.
In resigning from Eskom, Godsell was acting in protest at the lack of government support for the board's acceptance of Maroga's resignation. Godsell declined to comment on Thursday's developments at Eskom.
- Fin24.com