Hunt is on for new Eskom CEO | Fin24

Hunt is on for new Eskom CEO

Jul 21 2019 13:41
Sibongile Khumalo, Fin24

Eskom has started advertising for a new Group CEO to replace Phakamani Hadebe, who resigned in May.

In his resignation letter, Hadebe cited "unimaginable demands" of the job as having a negative impact on his health. He is set to leave Eskom at the end of July.

Cabinet approved Hadebe's appointment as permanent CEO in May 2018, after he had been serving in an acting capacity since January 2018.

An advertisement for the job stated that the new CEO will be tasked with restructuring the debt-ridden power producer into three entities, as announced earlier this year.

In February, President Cyril Ramaphosa revealed that Eskom would be split into three business units focused on generation, transmission and distribution in a bid to improve efficiency.

Government has allocated Eskom R23bn for each of the next three fiscal years, as the state entity battles a severe liquidity crisis which is threatening power generation.

The state-owned electricity producer has had numerous CEO changes over the last four years, including Brian Molefe who resigned in 2016 after being implicated in former Public Protector Thuli Madonsela's 'State of Capture' report.

Eskom said the it was looking for a candidate who would shape the future of the company and "ensure its financial and operational sustainability results."

Eskom supplies 95% of South Africa's electricity, and is facing a debt burden of nearly R500bn.

eskom  |  brian molefe  |  phakamani hadebe  |  power  |  electricity  |  ceo  |  debt


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