[miningmx.com] – Brian Molefe, CEO of Transnet, has been appointed acting CEO of Eskom, the state-owned power utility, said the country’s public enterprises minister, Lynne Brown.
“Colleagues, Mr. Molefe’s appointment to address what is currently inarguably the country’s biggest challenge, serves as a ringing endorsement of the depth of leadership we have at Transnet and our GCE’s unquestionable talent as a leader,” Transnet said in a shock announcement on Friday afternoon.
Transnet added that it would keep all stakeholders “timeously informed” in respect of the appointment of an acting CEO of Transnet. “To him we say break a leg”, said Transnet in its statement.
It is not clear whether the appointment will be made into a permanent move whilst an investigation into Eskom’s affairs – which resulted in the three-month suspension of its incumbent, Tshediso Matona – remains outstanding.
Matona was suspended on March 12 along with three other executives including Eskom’s CFO, Tsholofelo Molefe, by its then chairman, Zola Tsotsi, who has since resigned from the board following a vote of no confidence by his fellow board members.
The investigation is to study issues such as the under-performance of Eskom’s generating fleet, is coal procurement activities, the management of its balance sheet, and the multi-billion dollar power station project developments.
Molefe, 48, has been CEO of Transnet since February 2011, a position he successfully held through the initiation of a R310bn ‘Market Demand Strategy’ which has seen the state-owned transport and logistics company embark on the upgrade of infrastructure.
Previously he was head of the Public Investment Corporation, the state-owned asset management firm, and was regarded during that period for his aggressive shareholder activism.
