Analyst: Departing Hadebe may not have won over Eskom staff
Eskom CEO Phakamani Hadebe announced he was stepping down on Friday, saying the job had taken a toll on his health.
JOHANNESBURG – With Eskom due to advertise for the position of CEO after Phakamani Hadebe announced his resignation an analysts said he may not have won the confidence of the people.
Hadebe announced he was stepping down on Friday, saying the job had taken a toll on his health.
He said that the role came with unimaginable demands and he decided it was in the best interests of the company and his family to resign.
Analyst Chris Yelland said he was under immense pressure.
“Over financial issues, operational issues, environmental issues and people issues, I don’t think he has ever fully won the confidence of the workforce, staff, management of the exco.
“You might remember how the first incident of whole zero salary increases put him in confrontation with the unions.”
Yelland said 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.”
Meanwhile, the utility is set to deliver its report for the past financial year to the board on Tuesday and is expected to announce a loss of over R20 billion.
Economist Azar Jammine said that if Hadebe's succession was handled properly, his departure should have little impact on the operational stability of Eskom.
“It’s a huge organisation; it has already got several structures in place. What’s needed at the top is leadership just to guide it through its difficulties. If it’s a matter of days or weeks without leadership, then it’s serious.”
(Edited by Leeto M Khoza)