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12/09/2017

THE NEW ESKOM BOARD ANNOUNCED BY LYNNE BROWN

THE NEW ESKOM BOARD ANNOUNCED BY LYNNE BROWNA new Eskom board was announced on Friday by Public Enterprises Minister Lynne Brown. The new board will be tasked
with reinvigorating the struggling state-owned power utility and as much as possible, restore its lost glory. In addition to appointing a new board, Brown has retained Eskom’s interim board chairperson Zethembe Khoza and he will continue in his position until the power utility holds its annual general meeting next year. “The board to be led by Mr Khoza until the 2018 AGM will be further reinforced by filling the vacancy with the appropriate expertise from the business sector.” Also Read: Zuma To Appeal Court Ruling To Reverse Appointment Of Abrahams The new Eskom board comprises of seven of the interim non-executive directors and two new ones. Health ombudsman Malegapuru Makgoba is one of two new members on the freshly announced Eskom board while the second is legal




practitioner and academic Tshepo Mongalo. A third candidate‚ with business strategy expertise who was approved for appointment by cabinet declined the nomination citing “the highly charged environment in which Eskom is operating” as reason. “This situation reflects the difficulty the Minister has faced in putting together a strong board including people of the necessary calibre and leadership gravitas” a statement by Brown’s spokesman Colin Cruywagen said. Other members of the Eskom board include those in the interim board – Pat Naidoo‚ Giovanni Leonardi‚ Pulane Molokwane‚ Simphiwe dingaan‚ Banothile Makhubela and Sathiaseelan Gounden. Announcing the new members, Brown said Eskom’s new board must make appointing a new CEO an “absolute priority.” Over time, The role of CEO has been beset by controversy and scandal. In fact, the company’s acting CEO Matshela Koko is facing disciplinary action over contracts awarded to a company linked to his step daughter.




The embattled power utility, which is at the centre of a state capture probe by a parliamentary committee, has come under intense public scrutiny over the past few months. Following Parliament’s inquiry into state capture, Eskom has been under the spotlight a lot and last month, the utility admitted to cash flow problems. Eskom executives and board members have been called out for allegedly favouring the Gupta family when dishing out multi-million rand contracts. To add salt to the injury, the power utility which is South Africa’s largest state owned entity has also seen recent downgrades by ratings agencies.

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