Eskom Board accepts Anoj Singh’s resignation

Tuesday, January 23, 2018

The Board of Eskom has accepted the resignation of suspended Chief Financial Officer, Anoj Singh.

“Eskom has today received, through Mr Anoj Singh’s attorneys, a formal letter of resignation by Mr Singh from his position as the Chief Financial Officer, in line with the terms of his employment contract.

“The board of Eskom, through the Chairman, has accepted the resignation and communicated the acceptance through Mr Singh’s attorneys,” said Eskom in a statement.

It said Singh’s resignation is effective immediately. 

At the weekend government announced the appointment of new board members as an immediate measure to strengthen governance and management at the parastatal.

Jabu Mabuza was appointed as Chairperson of the Board. Government also recommended the appointment of Phakamani Hadebe as the Acting Group Chief Executive with immediate effect. 

The Board was directed to immediately remove all Eskom executives who are facing allegations of serious corruption and other acts of impropriety, including Singh and Matshela Koko.

“Government further calls on all Eskom employees and other stakeholders who may have evidence of wrongdoing to bring this to the attention of law enforcement agencies so that culprits can be brought to book,” said the Presidency on Saturday.

Eskom has been facing several challenges, including a weak financial position, declining revenues and governance failures, which are threatening the sustainability of the company going forward.

“As a result, government has decided on the following immediate measures to strengthen governance and management. This is the first step towards restoring confidence in the company, improving its financial position and restoring its operational performance,” said the statement by the Presidency.

It said Eskom is critical to the South African economy. “As a key enabler of economic growth and social transformation, any further deterioration of Eskom’s financial and operational conditions could have a severe impact on the country.”

The Ministers of Public Enterprises, Energy and Finance will work together under the leadership of the Deputy President to deal with other structural issues, which include the funding model and other industry challenges identified by the Inter-Ministerial Committee on SOE Reform.

The Presidency said with the appointment of the new board and acting Group Chief Executive, government firmly believes that Eskom can be returned to financial sustainability and contribute positively to the objective of shared prosperity. –

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