JOHANNESBURG - Minister of public enterprises Pravin Gordhan on Tuesday announced the chief executive of the South African Institute of Chartered Accountants (Saica), Freeman Nomvalo as Eskom's chief restructuring officer.
"I can announce that we have reached an agreement with the Saica that Mr Freeman Nomvalo will be seconded to be appointed at the Eskom chief restructuring officer," Gordhan said during Eskom's annual results presentation.
"He will lead the efforts to establish the CRO office and build its capability that must include the following expertise: corporate finance, debt management, balance sheet optimisation.
"He will report to ministers finance and public enterprises, and the Eskom board. He will have the authority to attend board and exco meetings."
Gordhan said some of Nomvalo's tasks would be to interrogate Eskom's debt and various proposals to resolve its burden, as well as engage investors with the Eskom executive.