ESKOM HOLDINGS SOC LIMITED - Appointment of Group Chief Executive of Eskom Holdings SOC Limited- BIESKM

Appointment of Group Chief Executive of Eskom Holdings SOC Limited- BIESKM

Eskom Holdings SOC Limited
JSE Code: BIESKM
Date 24 May 2018

ESKOM ANNOUNCEMENT
Minister of Public Enterprises, Minister Pravin Gordhan appoints Eskom Group Chief
Executive


Thursday, 24 May 2018: “On 20 January 2018, then Deputy President Ramaphosa
announced the appointment of a new board of Eskom together with an interim Chief
Executive, Mr Phakamani Hadebe.


Eskom was operating in an environment characterized by allegations of wholesale corruption
at the utility, a collapse in governance and an audit qualification on irregular expenditure. As
a result the company’s access to funding was restricted. Over the last 3 months, we have
seen steady progress in the stabilization of this institution. Many of the individuals alleged to
have been involved in corrupt activities have left the firm. Investor confidence has improved
and Eskom has returned to the capital markets. The board and various stakeholders are
engaged in considering the role Eskom should play in the next 5 to 10 years to ensure it
contributes positively to the economy and remains financially stable.


To begin to rebuild the Executive Team, Cabinet has approved the appointment of Mr
Phakamani Hadebe as the new Group Chief Executive of Eskom. This is a reflection of the
excellent work he has done over the last few months at the institution.”


ENDS
Issued by: Eskom Media Desk

Tel: +27 11 800 3304/3343/3378

Cell: +27 82 805 7278 Fax: 086 664 7699

Email: mediadesk@eskom.co.za




*Contend extracted from the Department of Public Enterprises (DPE) statements titled
‘Statement by the Minister of Public Enterprises, Minister Pravin Gordhan, on the
Appointment of Eskom Group Chief Executive, Transnet Board, SA Express Board and
Denel Board’, as issued by DPE on 24 May 2018.

Date: 24/05/2018 11:42:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.