Boardroom TalkIn defence of Godsell |
Alec Hogg urges pause for thought before allowing Eskom's chairman to leave the stage.
Hi there,
Events at Eskom during the past week are bemusing. As much of the circus involved communication - or, rather, lack of it - we asked the best guy we know in this field to share his views. Clive Simpkins has never been one to pull punches and did not disappoint. The podcast of our discussion is at http://tinyurl.com/yglbujz
Whatever the reason for the circus, one hopes cool heads will eventually prevail at an organisation whose importance to the national effort can hardly be over-stated. Worth recalling, too, that it's only because of the continued stumbling by Eskom that former miner Bobby Godsell had his arm twisted to take over as chair so happily vacated by former politician Valli Moosa.
Just before he retired as CEO of Anglogold Ashanti (JSE:ANG), Godsell told me he was looking forward to spending more time with Gillian and his girls; and suggested we chat from time to time over a cup of char at Scusi, Parkview's famous coffee shop. It would be an opportunity to debate important issues, like the messages he wanted to offer in the guest lectures at business school; and the arch rivalry between the cadet bands of his old high school (Grosvenor) and mine (Newcastle).
We never did share that pot of tea. Soon after our chat, Godsell moved into the hot seat at Eskom. In an obviously long list of new priorities, my voice mails went unanswered. Next we tried the official route, but despite Gaylyn's persistent stalking, requests for a radio interview were similarly dispatched to file 13.
This is not the engaging, obliging Godsell I know. And as we have a history going back a while - including daughters who have been close friends for years - I know him better than most of my regular interviewees.
Events of the past few days offer some insight into the pressure he must have been absorbing as Eskom's chairman. His departure after the apparent resignation of CEO Jacob Maroga was reversed, has produced some surprising consequences. Including strong support for the business leader from the head of organised labour. At the very least that unprecedented action must encourage any logical soul to give Godsell the benefit of the doubt while time helps uncover the truth behind this mucky mess.
With some patently absurd allegations being levelled at Godsell, including accusations of racism and arrogance, I'm reminded of my discussion a couple years ago with fabulously wealthy Canadian mining and property entrepreneur Peter Munk. Founder and chairman of the world's leading bullion producer, Barrick Gold Corp, Munk had invited me to his New York residence, an apartment that occupies the floor of a smart building on the East Bank of Manhattan Island.
We got talking about South Africa. Munk said he was perplexed at being continually rebuffed by a man he'd tried hard to entice away from our homeland. Munk told me "no matter what I offered, he simply refused to leave South Africa". He was referring, of course, to Robert Michael Godsell, who will forever be a darling of the gold sector because of his championing and launching of bullion ETFs when chairing the World Gold Council.
What happens next is anyone's guess. But for Godsell to be cast aside like an old boot is an appalling prospect.
What can be said beyond any doubt is Godsell has for so long seen past the hue of a man's skin that those accusing him of racism, or claiming his opposition to Maroga is based on anything other than logic, are clutching at the flimsiest of straws.
Godsell is also one of a handful of truly world-class local business leaders who remains wholly committed to this country. Unlike many of his peers, there's no English country manse or American beach cottage in the Godsell family's future. He intends seeing his grandchildren grow and thrive in South Africa - preferably while the lights stay on. For Eskom to lose his input during this most crucial time is a luxury the nation just cannot afford.
Godsell's all-too vocal critics, many of whom are beneficiaries of random elevation to positions beyond their competence, should be recognised for what they really are. The sooner their voices are stilled, the better for all concerned. It's hard to reach thoughtful solutions while noise keeps spewing from empty vessels.
Write to Alec Hogg: alec@moneyweb.co.za or follow him on www.twitter.com/alechogg
Alec Hogg is Moneyweb's founder and editor in chief. You can hear him every weeknight on SAfm's Market Update with Moneyweb just after 6pm.
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