BETWEEN THE CHAINS: New Eskom boss heading into a storm
The incoming CEO of Eskom will be its sixth boss in three years. He will inherit a political minefield fraught with an appalling governance culture and corruption that interferes with operations. The new CEO, who will be appointed before the end of June, will have the task of dealing with national treasury’s report into Eskom’s procurement irregularities during the past two years, which is due to be released in the next few weeks. The current board is also gearing itself up for a fight to clear its name and restore its credibility in the wake of the public protector’s state capture report. The report pointed an accusing finger at then CEO Brian Molefe, chairman Ben Ngubane, former nonexecutive director Mark Pamensky and two other directors, either for inappropriate dealings with the Gupta family, or conflict of interests while representing Eskom. These allegedly improper dealings caused Eskom to improperly pay more than R1.2bn to Tegeta Resources in the months it was trying to raise...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.