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Gordhan announces new Eskom CEO

Business Report logo Business Report 2018-05-24 Staff Reop
a man wearing a suit and tie: File image: Public Enterprise minister Pravin Gordhan. (FILE PHOTO/ANA). © Provided by Independent Media File image: Public Enterprise minister Pravin Gordhan. (FILE PHOTO/ANA).
JOHANNESBURG - Minister of Public Enterprises, Mr Pravin Gordhan today announced changes to the boards of various State Owned Enterprises (SOEs). 
The announcement follows a meeting of Cabinet held in Cape Town on 23 May where the appointments were confirmed. The Minister will also address other developments in SOCs within the portfolio. 
Last week Gordhan said he would work to "recapture" South Africa's debt-laded state-owned companies after years in which they were milked of billion of rands by politically connected businessmen.
"We will work to 're-capture' the state-owned companies, putting in place strong and ethical boards, re-establishing good governance. We will ensure that, the companies function in line with their mandates, and halt the vicious looting and theft," he said in his department's budget vote speech, in a wordplay on state capture, shorthand for corruption linked to mainly the Gupta family.
Gordhan said he planned to ensure parastatals had competent management teams and viable business plans and were re-orientated to their core functions, which included providing critical infrastructure and creating much-needed jobs.
"Improvements in operational performance, and engendering confidence among lenders and the bond market is critical," he added.

Gordhan also announced that Phakamani Hadebe will be the new CEO of power utility Eskom. It is believed that he was recommended for the position by the Eskom board and was made permanent in the position during the meeting held yesterday. 


- BUSINESS REPORT ONLINE 

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