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South Africa's Eskom Appoints Chief Financial Officer Calib Cassim as Interim CEO
South Africa's Eskom Appoints Chief Financial Officer Calib Cassim as Interim CEO
Sputnik Africa
Eskom's financial officer Calib Cassim has been appointed as the company's interim CEO, taking over after Andre de Ruyter, the electricity authority has announced.
2023-02-24T12:36+0100
2023-02-24T12:36+0100
2023-04-15T10:15+0200
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Eskom's financial officer Calib Cassim has been appointed as the company's interim CEO, taking over after Andre de Ruyter, the electricity authority has announced. He is expected to take the position with immediate effect and lead Eskom's management until further notice. According to the statement, Cassim, who holds a master’s degree in business leadership, has been working for the company since 2001 and has proved to have a "deep understanding" of its business. He is a former head of the utility's regulation department. In November 2018, Cassim was appointed as Eskom’s chief financial officer. The recent appointment comes as the former CEO, Andre de Ruyter, was fired earlier this week before the originally scheduled resignation date, announced in December last year. It was planned that he would remain in charge until March 31, but the company curtailed his notice period to February 28. However, he was not required to serve the balance of his notice period. The firm's management has been subjected to criticism from the government, as well as the general public. In September, a new board of directors was appointed at Eskom by South Africa's Cabinet. The chairman of the new board, Mpho Makwana, was expected to review the performance of the former CEO and the rest of the company's management. Eskom's chief operating officer, Jan Oberholzer, will retire in April, as the board decided to scrap this position. South Africa is experiencing a severe energy crisis. The country has been suffering from electricity shortages for about 15 years, but power cuts have reached unprecedented levels in recent months. The utility firm Eskom, which produces nearly 95% of the country's electricity, implements nationwide power outages to reduce pressure on the grid following the breakdown of its old coal-powered plants.The continuing deterioration of the situation has forced the government to declare a "national state of disaster to respond to the electricity crisis and its effects." According to South African President Cyril Ramaphosa, the state of disaster regime allows the government to take a series of practical measures to support businesses, including the deployment of generators and solar panels to ensure an uninterrupted energy supply.Earlier this week, the South African National Treasury stated that that the government had decided to take on 254Bln rand ($14Bln) of Eskom's 423Bln rand ($ 23Bln) debt over the next three years to enable the company to pay down its debt and interest obligations.
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southern africa, south africa, eskom, energy crisis, utility firm, coal-fired plants, power outages, nationwide blackouts
southern africa, south africa, eskom, energy crisis, utility firm, coal-fired plants, power outages, nationwide blackouts
South Africa's Eskom Appoints Chief Financial Officer Calib Cassim as Interim CEO
12:36 24.02.2023 (Updated: 10:15 15.04.2023) On Wednesday, South African utility company Eskom stated that Andre de Ruyter, its chief executive, had been released from his position with "immediate effect" following a special board meeting held the same day.
Eskom's financial officer Calib Cassim has been appointed as the company's interim CEO,
taking over after Andre de Ruyter, the electricity authority has announced. He is expected to take the position with immediate effect and lead Eskom's management until further notice.
"With over 20 years of service in Eskom, his qualifications and extensive experience have provided Mr Cassim with a deep understanding and appreciation of the Eskom business and the electricity industry, especially regarding the challenges facing the financing of operations and future expansion of the industry," Eskom said in a statement.
According to the statement, Cassim, who holds a master’s degree in business leadership, has been working for the company since 2001 and has proved to have a "deep understanding" of its business. He is a former head of the utility's regulation department. In November 2018, Cassim was appointed as Eskom’s chief financial officer.
The recent appointment comes as the former CEO, Andre de Ruyter, was fired earlier this week before the originally scheduled resignation date,
announced in December last year. It was planned that he would remain in charge until March 31, but the company curtailed his notice period to February 28. However, he was not required to serve the balance of his notice period.
The firm's management has been subjected to criticism from the government, as well as the general public. In September, a new board of directors was appointed at Eskom by South Africa's Cabinet. The chairman of the new board, Mpho Makwana, was expected to review the performance of the former CEO and the rest of the company's management. Eskom's chief operating officer, Jan Oberholzer, will retire in April, as the board decided to scrap this position.
South Africa is experiencing a severe energy crisis. The country has been suffering from electricity shortages for about 15 years, but power cuts have reached unprecedented levels in recent months. The utility firm Eskom, which produces nearly 95% of the country's electricity, implements nationwide power outages to reduce pressure on the grid following the breakdown of its old coal-powered
plants.
The continuing deterioration of the situation has forced the
government to declare a "national state of disaster to respond to the electricity crisis and its effects." According to South African President Cyril Ramaphosa, the state of disaster regime allows the government to take a series of practical measures to support businesses, including the deployment of generators and solar panels to ensure an uninterrupted energy supply.
Earlier this week, the South African National Treasury stated that that the government had decided to take on 254Bln rand ($14Bln) of Eskom's 423Bln rand ($ 23Bln) debt over the next three years to enable the company to pay down its debt and interest obligations.
