Phakamani Hadebe's resignation as Eskom CEO met with shock
Energy analyst Chris Yelland says Hadebe's resignation comes at a critical time for Eskom.
JOHANNESBURG - Eskom CEO Phakamani Hadebe's resignation has sent shockwaves through the country and comes just before the state-owned entity's financials are due to be presented to the board.
The board released a statement yesterday afternoon confirming that Hadebe would be stepping down at the end of July.
Hadebe says it's no secret that the role comes with unimaginable demands which have taken a toll on his health, therefore he decided it was in the best interests of the company and his family to resign.
Energy analyst Chris Yelland says this comes at a critical time for the SOE.
“Eskom’s financials go before the board next week so there’s a coincidence in the timing of his resignation because Eskom is expected to post a loss of R20 billion.”
(Edited by Refilwe Pitjeng)