Eskom has confirmed that Dan Marokane will be returning to the struggling power utility as its new group chief executive by no later than March 31 next year.
This will be the first time that Eskom gets a permanent head since the resignation of André de Ruyter exactly a year ago.
The Eskom board announced Morake’s appointment on Friday afternoon, saying he was returning to the power utility after he and three other senior executives were suspended following an ethical stand they took against state capture, fraud and corruption.
Marokane, a qualified chemical engineer with an MBA, is a seasoned executive with more than 20 years senior leadership experience.
He has experience working in distressed organisations with visible and pressurised turnaround mandates.
His most recent assignment was at Tongaat-Hulett, where he stepped up to lead this financially distressed business when its chief executive officer resigned.
Eskom board chairman Mteto Nyati said Marokane’s appointment followed a long, rigorous and meticulous recruitment process.
The Eskom board embarked on a global search for a suitable candidate with the necessary leadership, experience and business orientation with a solid track record in the energy sector.
Nyati said Marokane had experience in managing complex strategic, operational and commercial turnarounds across the private and public sectors
“He also has in-depth knowledge of the Eskom environment. He leads from the front. He will hit the ground running. That is what Eskom and South Africa need right now,” Nyati said.
“We are delighted to have him on board and are confident that he, the executive committee and the board will work well together in rebuilding an Eskom of tomorrow that is anchored on high-performance culture.”
To ensure compliance with Eskom’s memorandum of incorporation, the shareholder, or the government, had to ask the Eskom board to go back to the drawing board until it found three appointable candidates.
Marokane said he felt honoured to be chosen to lead Eskom at this critical juncture in its history.
“I look forward to working with the leadership team, Eskom board, the shareholder and other key stakeholders to accelerate implementation of the generation recovery plan, the creation of transmission capacity, as well as other critical Eskom priorities, and chart a path to a sustainable future for Eskom. If it is to be, it is up to us,” Marokane said.