Eskom CFO placed on special leave

Friday, July 28, 2017

Eskom has placed its Chief Financial Officer (CFO) Anoj Singh on special leave pending an investigation.

“The Board of Directors of Eskom has taken a decision to grant Chief Financial Officer, Mr Anoj Singh, special leave pending an investigation,” the power utility said on Thursday.

Registered chartered accountant Calib Cassim, who has worked at Eskom for 15 years, has been appointed as the utility’s interim Chief Financial Officer (CFO).

In addition, Public Enterprises Minister Lynne Brown, under which the power utility falls, has noted the board’s decision.

“We would also like to assure all stakeholders that the company is stable as evidenced by the recent financial results, and will continue delivering on its turnaround strategy,” said Acting Chairman Zethembe Khoza.

Last Wednesday, the power utility released its 2017 integrated annual results that showed that the revenue increased by 7.9% to R177 billion, while there was an EBITDA (earnings before interest, tax, depreciation and amortization) of R38 billion representing an increase of 14.4%. –