Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Parliament slams Eskom board

Nov 06 2009 08:44

Related Articles

Turmoil over Eskom CEO's exit

Maroga exit mostly welcomed

Eskom leadership battle erupts

 

Top Stories

Rand tumbles on jittery euro

Feb 10 2012 18:19

The rand tumbled against the dollar in late afternoon trade as the local currency tracked a jittery euro.

Zuma to make 'important' announcement

Feb 10 2012 17:28

President Jacob Zuma will make an announcement "of national importance" on Saturday, says a central bank statement.

Rand tumbles 2% against dollar

Feb 10 2012 14:37

A weak euro has dragged down the rand, causing it to extend losses against the dollar as the eurozone debt crisis affected investor sentiment.

 
Share Share line Print

Cape Town - The Eskom board has the habit of "running amok" in critical moments, Vytjie Mentor, the chairperson of Parliament's portfolio committee on public enterprises said on Friday.

This was in reaction to reports that Eskom CEO Jacob Maroga had resigned (a Fin24.com report says that Maroga is not officially out of the picture, as he is yet to sign severance papers).

"When it is critical moments like this, the board runs amok with the issues without considering a whole lot of issues," Mentor said in an interview on SAfm.

She could not confirm whether Maroga had resigned, as Eskom chairman Bobby Godsell announced to staff on Thursday.

Shortly after that, the African National Congress Youth League said Maroga had not resigned.

Maroga is yet to comment.

"We need to be shown proof that he has resigned... there has been conflicting reports which insist that he has not resigned," said Mentor.

"We are told it's the board [who is behind his reported resignation]. What is the role of the shareholder in this saga?," asked Mentor.

She said she heard the news through the opposition Democratic Alliance.

"This is not [good] for the confidence of the country... for the utility itself. It is coming at the wrong time and the question I want to add... is what role is the board playing?

"Is it management only that must be blamed?"

Mentor said, two weeks ago, when Eskom's annual report was presented, there was no talk of unhappiness with Maroga's performance.

"The board and the management appeared two weeks ago before parliament... in that annual report Mr Maroga has received R2 million additionally to his salary.

"There was no indication that they were not happy with his performance."

The board needed to take some responsibility in the performance of the CEO.

"If the board is not performing... the board has to answer," she said.

Maroga was at Eskom's helm in turbulent times, including rolling black-outs in 2008 and, more recently, a request for 45% tariff hikes every year for the next three years.

- Sapa

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook still a closed book in China
Feb 08 2012 16:59

Mark Zuckerberg wants to ''friend'' China's massive market but how far is he prepared to go, and against what competition?

Schalk Louw

Before this weeks call, just a quick update on my open calls. My Reinet BUY (at 1351cps) is already up 1.33% (while the Top40 is down with 1% over the same period), while my MTN BUY (at 13989cps) struggling somewhat. I'm still happy with both these companies over both the longer- and shorter term. ... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...