Eskom CFO resigns

Eskom’s Chief Financial Officer Paul O'Flaherty will be leaving his post after the upcoming AGM.

Eskom's Megawatt Park offices in Sunninghill. Picture: Taurai Maduna/EWN

JOHANNESBURG - Eskom's Chief Financial Officer (CFO) Paul O'Flaherty resigned from his position on Tuesday.

The shock announcement came after the power utility revealed its interim financial year results at Megawatt Park, north of Johannesburg.

O'Flaherty was brought in a few years ago to help readjust Eskom's financial plans.

He spearheaded the multi-year price determination plan, which resulted in the adjustment of tariffs over the past few years.

Eskom CEO Brian Dames announced O'Flaherty's resignation.

"Paul and I have been talking for some time and he has submitted his resignation. This will be a managed process, so O'Flaherty will only leave after the next annual general meeting."

The power giant brought in R12.6 billion in net profit this year, which is R200 million less than its interim results from 2011.