It is fair to say that state-owned power producer Eskom has seen better days. Loadshedding has become a weekly occurrence, and turmoil in the board saw the removal for its Financial Director and CEO.
Also unhappy with Board Chairman Zola Tsotsi, Eskom’s board requested that Tsotsi make a presentation as to why he should remain in the post. Things did not go his way however, as Eskom revealed that it had “a constructive discussion about charting a way forward for the power utility,” it said in a press statement.
Shortly thereafter, Tsotsi handed in his resignation as Board Chairman and Director, which the Eskom board accepted.
“Tsotsi agreed to step down as a Director and Chairperson of the Board. Speaking after the meeting, Mr Tsotsi indicated that the board had unity of purpose and that his decision to step down was in the interest of the company and the country and was done in order to allow the board to focus on the core issues facing Eskom.”
To replace Tsotsi, the board appointed former SABC chairperson (and former ambassador to Japan) Dr Ben Ngubane as Acting Chairperson of Eskom.
“This step, the board believes, will ensure that the Eskom can focus on the challenges facing it and sets the company on a new path to regain the confidence of all stakeholders concerned in ensuring the important work of meeting the energy needs of the country.”