Brian Molefe’s Contract as CEO of Eskom Extended

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Board members for Eskom Power Utility have extended the contract for the Acting CEO of Eskom, Brian Molefe, to a further 3 months. This comes in place after consultations between the Board of Transnet and the Minister of Public Enterprises, Lynne Brown.

The contract was extended to enable the CEO of Eskom to have adequate time to effectively execute the strategies that he was working on for the firm so as to help turn Eskom fortunes around. This would help in the financial and operation sustainability of the firm.

Molefe was appointed CEO of Eskom in April 2015 after 4 years of being the Group CEO for Transnet. His appointment at Eskom was also considered because of the fact that he has extensive understanding of the public sector and the environment in which state owned companies (SOCs) operate.

Eskom Chairman Dr Ben Ngubane also confirmed that the board had received a report on the investigations commission for the firm in March. During that time, 4 executives for the firm were asked to step aside to pave way for investigations.

The report presented indicated that no wrongdoing had been found on any of the suspended executives and since then three of the executives parted ways with Eskom. When the report is complete then, share holders of the firm will also have a copy of the same.