Registered users can save articles to their personal articles list. Login here or sign up here

Applications open for SA’s most challenging CEO job

The CEO will be responsible for Eskom’s restructuring and finances.

Eskom, the monolithic state-owned South African power utility that’s grappling with an unsustainable debt load and chronic operational problems, has advertised for a new chief executive officer two months after Phakamani Hadebe announced he’d vacate the post.

The job is probably one of South Africa’s most challenging — it entails overseeing a company that supplies about 95% of the nation’s electricity, has more than 47 600 employees and revenue of R190 billion ($13.6 billion) yet isn’t selling enough power to cover its costs. Hadebe said he would quit at the end of this month because the role comes with “unimaginable demands” that have taken a toll on his health.

The new CEO is required to have experience overseeing “significant change in a complex organisation with at least 20 000 employees and an annual turnover in excess of R30 billion,” Eskom said in its advertisement. He or she will also play a leading role in restructuring the utility, including implementing plans to split it into generation, distribution and transmission units under a state holding company.

“A competitive executive-level package will be tailored to attract the right caliber candidate, subject to approved remuneration and incentive guidelines,” Eskom said.

Read: ‘Bad cop’ set to be named to oversee Eskom rescue

Other requirements include a university degree, ideally at a post-graduate level, 20 years work experience and strong commercial acumen, while experience and expertise in the engineering, construction and energy fields will be an advantage. Applications close on August 2.

© 2019 Bloomberg L.P.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   1

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

I find the candidate requirements quite interesting, I wonder how many of the Eskom CEOs from the late 90’s to Mr. Hadebe would be disqualified on the basis of those requirements?

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Or choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be suspended at any time.

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company:
server: 172.17.0.2