Matshela Koko resigned on Friday. FILE PHOTO: ANA

JOHANNESBURG - Eskom has accepted the resignation of Matshela Koko with immediate effect, but said that it reserves all its rights to institute legal action in respect of any damages Eskom has suffered arising from his actions and to enforce its legal rights under the Pension Funds Act.

Koko, who was Eskom's head of generation, submitted his resignation to the power utility earlier on Friday after his disciplinary hearing began. In his resignation letter, Koko does not admit to guilt over charges relating to the awarding of contracts to a company in which his stepdaughter owns shares.

He had been suspended earlier this month over allegations of graft and serious charges of misconduct had been leveled against him, that would have been adjudicated at his disciplinary hearing which commenced on Friday.

Koko was implicated in the Tegeta-Optimum prepayment scandal, the McKinsey scandal, leaking confidential Eskom information to a Gupta associate, and allegedly awarding contracts worth more than R1 billion to his stepdaughter's company.

He had recently gone to the Labour Court to try to interdict Eskom from firing him after it proferred new charges against him.

READ MORE: BREAKING: Eskom's Matshela Koko resigns

In a statement, Eskom said that it would have preferred to continue with the disciplinary process so that Koko could be held to account for any proven wrongdoing. 

"Eskom, however, accepted that this practically could not be pursued in light of clear legal precedent that a resignation by an employee unilaterally terminates the employment relationship," the  power utility said.

"Eskom reiterates its belief that Mr Koko's resignation during his disciplinary hearing came in the face of serious charges of misconduct on the back of which Eskom would have sought a sanction to summarily dismiss him."

Eskom said that its board remains committed to its mandate to root out malfeasance and maladministration as a critical foundation to restoring transparent and effective governance. 

African News Agency/ANA