Sunday,
19 January 2020:
Following the first meeting under the leadership of the newly appointed Interim
Chairman, Professor Malegapuru Makgoba, the Board of Eskom remains committed to
the execution of the company’s turnaround plan.
Good
corporate governance dictates that the Lead Independent Director, Professor
Makgoba, steps in as Chairman pro tem. This has been done and an appointment
letter was issued by the Shareholder earlier last week.
The
Board looks forward to continue the challenging task of restoring Eskom back to
sustainability under the interim leadership of Professor Makgoba and with the
continued support of our Shareholder.
Professor
Makgoba said: “We welcome the announcement by His Excellency, President Cyril
Ramaphosa last weekend, that the Board would be strengthened and capacitated in
line with the commitment made by the shareholder ministry late last year. The
Board fully supports the need for this to be done as a matter of urgency to
enable us to fulfil our mandate.”
Makgoba
expressed the Board's gratitude to the former Chairman, Mr Jabu Mabuza for his
leadership over the past two years, saying he has made an exceptional
contribution to Eskom and South Africa during his tenure, which was
characterized by his firm commitment to bring stability to our company while
restoring good governance at a very difficult time. His leadership was
exemplary, displaying consistent values of honor and integrity which have been
extremely valuable to Eskom.
“We
would also like to express our confidence in our newly appointed Group Chief
Executive, André de Ruyter, as he embarks on the mammoth task of stabilising,
leading and transforming the utility. He and the Board will shortly be
deliberating on our action and implementation plans to address the challenges
and issues facing Eskom, we have made the diagnosis and now is the time for
treatment, no matter how radical, how bitter or how uncomfortable to be
administered going forward,” Makgoba concluded.’
ENDS