On Wednesday, I briefed the nation on the current state of the grid and the reasons for the implementation of stage 3 load shedding by Eskom. I am informed that the system is still tight. However, Eskom and its engineers are doing their utmost to contain further interruptions at our power plants. With than announcement I also informed the nation that I am looking at immediate steps to stabilise leadership at Eskom both at Executive and Board level.
Eskom is a strategic asset and one of the major utilities on the continent. It is therefore critical that Eskom operates optimally and contributes to economic growth of the country.
The decision to institute an inquiry has created uncertainty on Eskom’s ability to ensure security of supply and successful delivery of its build programme. I am happy to announce that the Terms of Reference for the appointment of an investigator is concluded and Dentons has been appointed to lead the enquiry. I will await a report from the Board as this process unfolds.
In order to stabilise the executive leadership and after consultations with various stakeholders including President Jacob Zuma, Deputy President Cyril Ramaphosa, the Boards of both Transnet and Eskom, I have decided to second Mr. Brian Molefe as Acting Chief Executive of Eskom.
Mr Molefe is the current Group Chief Executive of Transnet and his secondment is with immediate effect.
His experience in having turned around the Public Investment Corporation and providing stability at Transnet is a clear indication that Mr Molefe is no stranger in leading complex institutions. Given Eskom’s current financial and operational position, I am confident that we will be able to draw on his experience and understanding of the financial markets.
This secondment is also considered in light of Mr Molefe’s extensive understanding of the public sector and the environment in which State-Owned Companies operate. As is evident from his CV, he has been involved with entities such as Telkom, the Airports Company of South Africa, the National Empowerment Fund and the Export Credit Insurance Corporation amongst others.
Ladies and gentlemen, I now call on Mr Molefe to join us.
This secondment allows Mr Sinethemba Khoza to resume his role as a member of the Board. I want to take this opportunity to thank Mr Khoza for acceding to the call to step in at a critical moment when his leadership was needed.
To consolidate the leadership at Eskom, I will soon be submitting my recommendations to Cabinet on appointing additional members to strengthen and augment the required skills on the Board.
I would like to thank the Transnet Board for agreeing to the secondment of Mr. Molefe and the manner they dealt with this request. I would also like to appeal to the Eskom Executives and employees to welcome Mr Molefe and provide him with all the necessary support that he would require as he steers the company.
Condensed CV of Mr Brian Molefe
Mr Molefe’s qualifications include the following: Masters of Business Leadership, University of South Africa; Post-Graduate Diploma in Economics, London University, School of Oriental and African Studies and a Bachelor of Commerce, University of South Africa. Majors: Accounting and Economics. Other training courses include: a Programme for Young Global Leaders, Kennedy School of Government, Harvard University (Cambridge, Mass. USA, 2009), Advanced Management Program, Harvard Business School (Boston 2006); and Executive Programme at Wharton Business School (Philadelphia USA, 2003).
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SOURCE: South African Official News