Public Enterprises Minister Lynne Brown announced the appointment of her new board on Friday.
The new board comprises seven of the interim non-executive directors and two new ones. South Africa’s Health Ombud Professor Malegapuru William Makgoba and an expert in company law, Tshepo Herbert Mongalo, are new to the board.
Interim chair Zethembe Khoza will remain in his position until the parastatal holds its annual general meeting in 2018.
Eusebius McKaiser spoke to Deputy Editor at Financial Mail, Sikonathi Mantshantsha and Sunday Times senior investigative journalist Sabelo Skiti, for their take on the new recruits.
I am a very concerned South African. These two gentleman come very well regarded and highly rated, but I do not think that will make a difference.— Sabelo Skiti, Sunday Times senior investigative journalist
My guess is that within a year you will probably see these two gentleman walk away from Eskom in disgust.— Sabelo Skiti, Sunday Times senior investigative journalist
Mantshantsha says Makgoba has never been on any company board and has no business experience.
The prof may really be great in his own lane at the universities, but what we do need is the people who have demonstrated success in business themselves, who have distinguished themselves in the energy sector. You need turn around strategists, you definitely need tough administrators to hold the executive management by the scruff of their neck...— Sikhonathi Mantshansha, Financial Mail deputy editor
It means absolutely nothing if the board is controlled by Zethembe Khoza and indeed the only accountant there, Sathaseelan Gounden, who has proven himself to be part of this rot that has taken root at Eskom within the short space of time that he has been there.— Sikhonathi Mantshansha, Financial Mail deputy editor
Click on the link below to listen to the full discussion....