UPDATE: De Ruyter agrees to lower salary to lead Eskom

UPDATE: De Ruyter agrees to lower salary to lead Eskom

Andre de Ruyter will leave his post as Nampak CEO to take up the role as Eskom's new CEO. Image: Moneyweb

Nampak CEO Andre de Ruyter replaces former CEO Phakamani Hadebe, who stepped down in July.

In announcing that Nampak CEO Andre de Ruyter has been appointed as the new CEO of Eskom, the Public Enterprises ministry thanked him for “not only accepting this position at a difficult time for Eskom, but, given Eskom’s current financial situation, also agreeing to a lower compensation package than the position currently pays”.

De Ruyter will assume his duties on January 15. He is replacing former Eskom CEO Phakamani Hadebe, who stepped down in July on health concerns.

The ministry outlined in a statement the exhaustive process that was followed in identifying the beleaguered power utility’s new chief executive.

“He will work with the Eskom board, management and the government to spearhead the re-organisation of Eskom, which includes the separation of Eskom into three entities: generation, transmission and distribution, as well as the creation of Eskom Holdings,” the statement says.

Public Enterprises Minister Pravin Gordhan also thanked Nampak for releasing De Ruyter.

“I am grateful to the Board of Nampak for agreeing to release Mr Ruyter. To us this again is a show of partnership approach between all stakeholders to make any and every contribution towards a successful and sustainable turnaround of Eskom. Solving our current problems as a nation indeed does require a partnership approach and I am more than encouraged that we are all working as partners with everyone doing their part to help.”

Read the full statement here:

Statement on Eskom Ceo by Carina Koen on Scribd

(Compiled by Carina Koen)

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