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Bloomberg reports that Eskom is proposing executive job cuts and a reorganisation of management units in an effort to improve the power utility's financial position.
According to a document seen by Bloomberg, Eskom hired Boston Consulting Group earlier this year to help develop long-term strategic plans for the company, and Lazard for financial advisory services. An internal memo informed by their input proposes a new leadership structure and the reduction of the number of the most senior executives, a level known as F-Band employees, based on international benchmarks and comparisons to similar electricity companies. Eskom confirmed on Friday that a job dismissal process was proceeding for F-Band employees due to a new executive structure. The proposed changes will apparently merge the roles of group executive distribution and group executive customer service to increase accountability. Group executives for generation, transmission, distribution and capital will report to the chief operating officer instead of the CEO. The heads of IT and procurement will seemingly be demoted to E-Band general managers. This will also be the case for the heads of strategy, risk and sustainability, security, audit and forensics and corporate affairs
- Read the full original report by Paul Burkhardt at Fin24
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