Eskom said on Friday it would soon be announcing interim leadership arrangements once the board agrees with Minister of Public Enterprises Lynne Brown following the abrupt resignation of chief executive Brian Molefe.
Molefe announced his resignation on Friday, ten days after the release of former Public Protector Thuli Madonsela’s “State of Capture” report which raised serious concern about his conduct in relation to the Gupta family and their mining company Tegeta.
Molefe said he would leave his post on January 1, 2017 in the interest of the power utility and the public it serves, and would take time off to reflect before deciding on his next career move.
In a statement, Eskom said Molefe’s decision was “regrettable but understandable”.
“In an effort to clear his name following the release of former Public Protector Thuli Madonsela’s report on her ‘observations’ about the so-called state capture, Mr Molefe has decided to voluntarily step down to reflect and take time off,” Eskom said.
It said Molefe and his executive management team had turned around the state-owned power utility’s operational and financial performance, resulting in 15 months of no load-shedding, since joining the company in April 2015.
“The improved performance of the power generating units coupled with additional capacity from some of our new build projects has resulted in a stable power system, with excess capacity being exported to neighbouring states.
“The company’s liquidity position has also improved significantly, with liquid assets increasing by 81.6 percent from R24.1 billion a year ago, to R43.8 billion at 30 September 2016.”
Eskom said thanks to Molefe’s leadership skills, the group now had access to adequate resources and facilities to continue as a going concern for the foreseeable future.
The board thanked Molefe “for his relentless dedication to turning Eskom around, solidifying a capable executive team and putting it on a sound growth trajectory”.
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