Mining Weekly reports that state-owned power utility Eskom is continuing its search for a group chief executive.
This follows Phakamani Hadebe’s resignation in May, which becomes effective at the end of this month. Hadebe, at the time, said he was stepping down for health reasons after leading efforts to stabilise the highly indebted State firm since his appointment as CE in May 2018. In a newspaper vacancy advertisement for the position, Eskom requested that applications be submitted by 2 August. The utility indicated in the advert that the group CE would play a critical role in leading the execution of restructuring the entity, and that he or she must ensure financial and operational sustainability. The advert also indicated that interested applicants must have experience in managing a complex organisation, with at least 20,000 employees and a yearly turnover of more than R30-billion. Eskom currently employs 47,000 people and has a turnover of about R190-billion. The company is also awaiting the appointment of a chief restructuring officer (CRO), following President Cyril Ramaphosa’s announcement in February that Eskom would be unbundled into three separate entities, namely generation, transmission and distribution. Meantime, Finance Minister Tito Mboweni has proposed a R23-billion a year fiscal injection into Eskom, over ten years, conditional on restructuring.
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