The board of the South Africa’s electricity corporation, Eskom has extended the employment contract of its acting Chief Executive, Brian Molefe, for a further three months. The move follows consultation with the Board of Transnet and the Minister of Public Enterprises, Lynne Brown.
“The contract extension is with a view of affording Mr Molefe sufficient time to put into effect the strategies he had already started implementing aimed at turning Eskom’s fortunes around in order to ensure its financial and operational sustainability,” the state owned utility company said.
Molefe was seconded to Eskom in April 2015, following four successful years as Group Chief Executive at Transnet. Brown announced then that this was with the intention to help stabilise Eskom’s leadership. The secondment was also considered in light of Molefe’s extensive understanding of the public sector and the environment in which state-owned companies (SOCs) operate.
Meanwhile, Chairman of Eskom Dr Ben Ngubane says the board has received a presentation following an investigation that was commissioned by the Board in March 2015.
“Accordingly, Eskom advises that following this independent inquiry no wrongdoing has been found against any of the suspended executives,” Ngubane said.
“Three of the executives who were suspended on 11 March 2015 have since parted ways with Eskom amicably. There is no longer a reason to keep the remaining executive on suspension and he will return to work with immediate effect.”
The report is being finalised and will be shared with the shareholder in due course. Its recommendations will be used to strengthen the current turnaround strategy being implemented by the organisation.