The South African state energy giant Eskom, has appointed acting CEO and interim executive chairman, to give a new life to the embattled energy utility.
Mabuza will take-over from Phakamani Hadebe as acting CEO on 31 July. It may be noted that Hadebe resigned in May in a bid to turnaround the debt ridden power company. Importantly, the South African government has sanctioned a huge sum from the budgetary resources for salvaging the debt ridden company and making its operations feasible. This has led to down grade of the sovereign debt of the South Africa by Fitch, as reported by www.trendsnafrica.comthe other day.
While announcing the appointment of the Interim CEO by Minister of Public Enterprises Pravin Gordhan, he said that over the next three months, Eskom’s board of directors will zero in a permanent CEO. Importantly, Eskom will publish its financial results today. Analysts say that the company would have made record-breaking losses.
