Eskom’s current interim Chairperson, Zethembe Khoza, will remain at the helm of the power utility’s newly appointed board which was approved by Cabinet on Friday 08 December 2017.

The board will serve for a three-year term subject to an annual review and comprises current interim board members chairperson Zethembe Khoza, Dr Pat Naidoo, Giovanni Leonardi, Dr Pulane Molokwane, Simphiwe Dingaan, Dr Banothile Makhubela, Sathiaseelan Gounden, and new board members Professor Malegapuru Makgoba and Professor Tshepo Mongalo.

Minister of Public Enterprises Lynne Brown said she expects the board to take control and lead the company in taking decisive action in addressing the challenges of leadership, governance and ethics.

“I will be instructing the Board that the appointment of a new Group Chief Executive is an absolute priority,” Minister Brown said.

She added that the Board must deal decisively, among others, in addressing the audit qualification to avoid a repeat, ensuing investigations and the suspensions at EXCO level must be prioritised and finalised expeditiously. “These issues must be addressed in order to improve the Eskom brand, investor confidence and performance of the company at all levels.”

Recruiting specialist business expertise

Cabinet further expressed support for Brown’s strategy to recruit specialist business expertise to fill four additional vacant board positions prior to the Annual General Meeting in June 2018.

In terms of the Memorandum of Incorporation (MOI) read together with the Board appointment framework, Minister Brown is required to test the eligibility of directors through consideration of best practice – which includes a proper balance of skills, demographics, generation mix and tenure.

The process of vetting board candidates, including the verification of qualifications, criminal and directorship checks, takes up to four weeks to complete. Thereafter, the internal administrative process is initiated that leads to a shortlist.