Brian Molefe returns to Eskom (without the R30m)

Board rescinds ‘application for early retirement’.

Former Eskom boss Brian Molefe will be back in his Eskom office on Monday, board spokesperson Khulani Qoma said in an interview with eNCA on Friday morning.

This comes six months after his voluntary departure from the utility “in the interest of good corporate governance”.

Qoma said a decision was taken in the last few days to rescind Molefe’s request for early retirement and the default position would be for him to continue as Eskom CEO.

This comes after public enterprises minister Lynne Brown in April blocked a R30 million pension payment to Molefe saying she had “considered the Eskom Board’s reasoning in formulating the proposed pension payout and cannot support it”.

Read: SA blocks Eskom from paying former CEO farewell package

“I found the argument presented by the Board on why the pension arrangement was conceived lacking in legal rationale, and it cannot be substantiated as a performance reward because Mr Molefe has already been granted a performance bonus for his contribution to the turnaround of Eskom,” she said.

She added: “Given that I was not a party to the contract of employment concluded between the Eskom Board and Mr Molefe, I have instructed the Board to urgently engage Mr Molefe and report back to me with an appropriate pension proposal within seven days.”

Molefe in November last year left Eskom after a teary press conference where he responded emotionally to statements in former Public Protector Thuli Madonsela’s “State of Capture” report. The report questioned his relationship with the controversial Gupta family and implicated him personally in wrong-doing.

At the time Eskom said in a statement that Molefe decided “to step down in the interest of good corporate governance”.

“In an effort to clear his name following the release of former Public Protector Thuli Madonsela’s report on her “observations” about the so-called state capture, Mr Molefe has decided to voluntarily step down to reflect and take time off,” Eskom stated.

Eskom did not at the time state that Molefe in fact applied for early retirement and did not correct assumptions that he had in fact resigned.

On Thurday morning Qoma however told eNCA in a telephonic interview that was broadcast live that the Eskom board – in response to Brown’s move on Molefe’s pension – rescinded its decision to approve Molefe’s early retirement and the default position is for him to return to his job as group CEO on Monday. The R30 million pension pay-out was nullified, he said.

Qoma said the board consulted various parties, including various lawyers and experts in various fields, in coming to the decision.

Molefe would resign as member of Parliament with his resignation being effective from Sunday, Qoma said.

The decision comes as the board is bound to report back to Brown about an investigation into acting CEO Mtshela Koko’s involvement in large Eskom deals favouring a company where is his step-daughter worked.

Qoma did not mention this investigation when asked about Koko’s position. He said there were various board discussions underway, but the default position would be for Koko to return to his former position as head of generation.

Read: Save South Africa vows to stop Molefe return

Read: ANC rejects ‘reckless’ return of Molefe to Eskom

Read: DA wants parliament to probe Molefe reappointment at Eskom

Read: Don’t take the public for fools – Outa to Eskom board, Brown

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.

AUTHOR PROFILE

COMMENTS   16

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.

SIGN IN SIGN UP

Great. Now that Eskom no longer has to pay him more stolen money, he can be fired based on his participation in the Thegeta-related fraudulent activities as reported by PWC, and booted out without a golden handshake.

(I can always dream)

After having left in the interests of good governance, is he now returning in the interests of bad governance – or is it just a case of looking after one’s comrade.

Hopefully after smashing the proposed pension payout, Lynne Brown will now show additional character and smash the re-engagement (the so called default position – what crock).

You do realize the pension payout was blocked as an excuse to justify getting him back into the Eskom CEO chair after the Zuptoid plan to put him in the finance ministry was blocked. Now the minister gets to look like she did the ‘right thing’ and yet… we are back where we started, just with Malusi and the lunatic commie advisor is the finance minitry.

Run. Run as far away as you can.

Spot on. The political games of this government are so transparent, it’s embarrassing and insulting to the electorate. Time for this republic to switch all economic output to growing bananas methinks.

You have to marvel at just how good some of our people have it. Where else can you leave your job, and then 6 months later you can say, ‘well, I will have that back.’ You have to wonder how this works. Does anybody have an example of someone in the corporate world who did anything similar? I hope Molefe comes back a little wiser (though I doubt that), and with some ethical standards (and not as a begging and cringing sycophant for the Guptas and their beneficiary-in-chief. He can be his own man, if he grows a pair…why is he crawling on his knees and seemingly leaking boots all over the place? You got to wonder.

The circus that is Eskom just keeps getting better. Proudly brought to you by the ANC.

Thanks. Now where is the logic in reappointing a corrupt crybaby? Are we going to use his tears to cool the nuclear reactors?

So dear old Brian’s tears weren’t about sadness at leaving Eskom, they were all about the eye watering pension payout he was going to get. They say (Ngubane and the other criminals) he didn’t resign in his press interview he said he was stepping down as CEO, what is more conclusive than that as a directive that he has resigned. Now he merely requested early retirement such events are in terms of HR protocols miles apart and have distinctly different outcomes.
At least is now know he is an out and out ANC cadre deployee, and needs to be treated as a hostile and money grubbing boot licker for the Gupta’s

Molofe said he left ESCOM in the interest of the company, good corporate governance and the interest of the public. Now he crawls back and this is not in the interest of the company, good governance and interest of the public. Double standards and no integrity.

I hope the reason for making him an MP comes to light….sinister

Someone has to make sure the nuclear deal goes through – the bribes have already been paid!

You gotta love it…he gets another crack at corruption at the SOE – this time to get more ‘pension’.

Well Koko is up for a corruption investigation (at least 1) so I guess they need another puppet to come back and might as well recycle.

I would say the board of Eskom needs to be fired but who are we kidding. As long as the ANC is in charge then Eskom (and most other SoEs) will be play things to funnel tax payer money to various parties.

Molefe resigned with the promise of becoming Minister of Finance and big pension payout.

Both backfired – now the spin/lie is that he took early retirement – just another ruse to get hands on something he is not entitled to – which is typical for ANC cadres

In that case it’s not too late to send Gigaba back to the tea trolley and bring back Pravin.

SA is a dog’s breakfast.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: