Publications
Partners
Johannesburg - Eskom said on Thursday its chief executive would step down in March, departing the power utility at a time when South Africa struggles to keep the lights on due to tight electricity supply.
Eskom chairperson Zola Tsotsi told a media briefing that Brian Dames was stepping down for "personal reasons" and that a search for his successor was already underway.
His resignation follows the departure of another top executive, CFO Paul O’Flaherty in July this year.
Dames was appointed chief executive of Eskom on July 1 2010, after serving Eskom in various management positions and as member of the executive committee in 2004.
He joined Eskom in 1987 as a graduate in training, according to Whoswho.
The announcement comes at the same time that the company posted a R12.2bn profit for the six months to end-September 2013.
The company has however warned that this profit will be eroded somewhat in the second half of the financial year due to "the seasonality inherent in the sales and maintenance profiles".
Tsotsi thanked and praised Dames for his dedication and commitment to Eskom over a 26-year career at the parastatal. “I want to personally thank Brian for his hard work, for taking the helm of Eskom during arduous times and successfully steering the company through many rough seas.
"Eskom will still have the benefit of his vast experience and knowledge until 31 March 2014," he said in a statement.
He said during this time the Eskom Board and Dames will work together to ensure a smooth transition to a new chief executive. "The process to find a successor is well underway and we expect it to be concluded timeously.”
Eskom chairperson Zola Tsotsi told a media briefing that Brian Dames was stepping down for "personal reasons" and that a search for his successor was already underway.
His resignation follows the departure of another top executive, CFO Paul O’Flaherty in July this year.
Dames was appointed chief executive of Eskom on July 1 2010, after serving Eskom in various management positions and as member of the executive committee in 2004.
He joined Eskom in 1987 as a graduate in training, according to Whoswho.
The announcement comes at the same time that the company posted a R12.2bn profit for the six months to end-September 2013.
The company has however warned that this profit will be eroded somewhat in the second half of the financial year due to "the seasonality inherent in the sales and maintenance profiles".
Tsotsi thanked and praised Dames for his dedication and commitment to Eskom over a 26-year career at the parastatal. “I want to personally thank Brian for his hard work, for taking the helm of Eskom during arduous times and successfully steering the company through many rough seas.
"Eskom will still have the benefit of his vast experience and knowledge until 31 March 2014," he said in a statement.
He said during this time the Eskom Board and Dames will work together to ensure a smooth transition to a new chief executive. "The process to find a successor is well underway and we expect it to be concluded timeously.”
