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ANA reports that Public Enterprises Minister Lynne Brown has declined Eskom’s proposal to pay its former CEO Brian Molefe a R30 million pension pay-out and strongly criticised the board for leaving her in the dark about the matter.
“I have considered the Eskom board’s reasoning in formulating the proposed pension payout and cannot support it," Brown said on Sunday. She went on to state that she found the argument presented by the power utility’s board “lacking in legal rationale and it cannot be substantiated as a performance reward because Mr Molefe has already been granted a performance bonus for his contribution to the turnaround of Eskom.” She has instructed the board to urgently engage Molefe and report back to her with an appropriate pension proposal within seven days.
- Read this report in full at IOL News
- See too, Brown declines Eskom's proposal to pay Molefe R30m, at BusinessLive
Get other news reports at the SA Labour News home page