Heads roll at Eskom over poor performance

Eskom CEO Tshediso Matona

Eskom CEO Tshediso Matona

JOHANNESBURG, (CAJ News) – ESKOM, the beleaguered parastatal, has suspended its Chief Executive Officer, Tshediso Matona, and senior executives as part of an independent probe to the problems bedeviling the company.

“To ensure that this process is as transparent and uninhibited as possible, the Board has also resolved that four of its senior executives, including the Chief Executive, should step down for the duration of this enquiry,” said Eskom Chairman, Zola Tsotsi.

The other executives who have been asked to step down while the enquiry is underway are Tsholofelo Molefe (Finance Director), Dan Marokane (Group Capital) and Matshela Koko (Commercial and Technology).

One of the current non-executive board members, Zethembe Khoza, has been asked to assume the position of interim Chief Executive.

Nonkululeko Veleti (Finance), Mr Abram Masango (Group Capital) and Edwin Mabelane (Commercial and Technology) will assist him.

“All these senior executives have been with the organisation a long time and we are confident that they will maintain business continuity during this period,” Tsotsi said.

The Board also resolved that the independent enquiry be conducted by external parties, who will be selected within the next week. They will be given unfettered rights of access to all information deemed necessary for this probe to be successful.

The Board has emphasized that this process was a critical step towards ensuring that the situation facing Eskom improves as expeditiously as possible.

“To that end, we would like to assure our customers and employees that this was done in the best interest of all our stakeholders, and we hope to come out of this with a better grasp of all the challenges facing the business, and most importantly, with solutions,” added Tsotsi.

Eskom has been beset by problems such as poor performance of generation plant, delays in bringing the new generation plant on-stream, high costs of primary energy and cash flow challenges.

– CAJ News

Short URL: http://cajnewsafrica.com/?p=4697

Posted by on Mar 12 2015. Filed under Electricity, Featured, Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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