The infamous Eskom Holdings has just put up advertising for a new CEO. This is 2 MONTHS after Phakamani Hadebe made the official announcement that he will be vacating his post as Chief Executive Officer (Eskom just showing us once again how long it takes them to react to something).
Hadebe seems to have had enough of the unsustainable debt and constant operational issues of Eskom and we don't blame him but is he to blame? We don't think so. Hadebe is a hardworking and appraently a very likeable citizen who has successfully turned around companies such as the Land Bank and ran the National Treasury’s Asset and Liabilities division from 2003 to 2008 pretty well.
So Why Did He Fail:
The job of Eskom's CEO is most likely one of the most challenging in South Africa. Think about it, being in charge of the one company that supplies over 95% of an entire nation's power, has a revenue of 190 billion rand, has over 47600 employees and still can't cover it's own costs or supply enough for the country's needs. Would you go for the job?
We all know about the dysfunctional South African politics and it seems Hadebe could not implement the changes he needed to to stabilise the business and it's finacial issues. What is the point of being "in charge" of a company when you aren't really in charge. Hadebe had a plan to minimise expenses by keeping wages flat in 2018 but he was physically threatened by employees. The unions were not happy to say the least and that's when President Ramaphosa and Minister of Public Enterprises Pravin Gordhan implemented an unaffordable 7.5% wage increase. A similar thing happened when Eskom tried to prosecute union members who had sabotaged and damaged plants during the strike.
Hadebe has stated that this job has taken a serious toll on his health and that the position comes with “unimaginable demands”. He is expected to leave at the end of the month.
The Next South African to Put Themselves in the Firing Line:
A requirement for the new CEO is that he/she must have experience managing a “significant change in a complex organization with at least 20 000 employees and an annual turnover in excess of 30 billion rand,” Eskom said in its advertisement.
The Eskom ad also states that the new CEO will play an extremely intergral role in restucturing the utility (that's if they actually have a real say).
Eskom mentioned, “A competitive executive-level package will be tailored to attract the right calibre candidate, subject to approved remuneration and incentive guidelines”.
Some other requirements: university degree, atleast 20 years work experience, expertise in engineering, construction and enegry fields will be advantageous.
There you have it folks, the deadline for all applications will be 2 August. Will you be applying?
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