Rustenburg - Eskom is too big and too important to fail, board chairperson Mpho Makwana said on Thursday, amid chief executive Andre de Ruyter announcing his resignation from the power utility on Wednesday.
Makwana said the board agreed to practise what he termed “governance unusual”, which meant the board would not wait for monthly reports, it would be fully supportive of the executive team.
“We also felt that given the very high expectation the country has, we will be actively involved as we have been. Firstly we do what we do because we believe Eskom is too big and too important to fail or to be allowed to let South Africans down ... ”
De Ruyter will leave his office on March 31.
Makwana said he did not expect De Ruyter to tender his resignation on December 12.
De Ruyter said: “I am disappointed that I could not achieve all the objectives that I set for myself. The operational and financial challenges, challenges surrounding societal matters – crime and corruption ... With that said, as the chairman said, I am in a position.
“I am also dependent on the support of the broader political economy and that is critical to enabling the success of Eskom going forward.”
He intended to take some time off to spend it with his family.
Public Enterprises Minister Pravin Gordhan said De Ruyter had made a remarkable difference and, as he pointed out, much more needed to be done to turn Eskom around.
He said Finance Minister Enoch Godongwana had indicated his commitment to take a significant part of Eskom’s debt. The necessary announcements would made next year when he delivered his Budget address.
Gordhan thanked De Ruyter and his family for their sacrifice, and for him taking the “huge step” from the private sector to the public sector.
He called on Eskom employee to stand up against corruption.
“Now is the time to stand up against corruption and work for the country. Do not be tempted by bribes ... ”
IOL