Eskom director resigns after board learns of 'certain conflicts of interest' | Fin24
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Eskom director resigns after board learns of 'certain conflicts of interest'

Oct 19 2018 15:02

Power utility Eskom announced on Friday afternoon that one of its non-executive directors had stepped down after the utility's board became aware of conflicts of interest. 

Eskom chairperson, Jabu Mabuza, said in a statement: “On behalf of the Eskom Board, I wish to confirm that Mr George Sebulela tendered his resignation this afternoon as a non-executive director. His resignation takes effect immediately and the Minister of Public Enterprises has been informed accordingly."

"Sebulela resigned after considering legal advice on his continued role as an Eskom director after the board was made aware of certain conflicts of interest. In this regard, Mr Sebulela made the correct decision to resign from the Board and to help ensure that acceptable standards of good corporate governance are maintained."

He did not say what the phrase 'certain conflicts of interest' referred to.  

Mabuza added that the board was aware of "allegations [...] peddled in the media that other directors had also resigned from the Eskom board". He said such information is "patently false".

According to his short bio on the Eskom website, Sebulela is the president and CEO of financial services group Sebvest Holdings. He was formerly the secretary general of the Black Business Council. 

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