Well, well, well! I could hardly believe what my TV news was telling me this morning (Friday). Reincarnation at Eskom!
The crying, voluntary early retirement in the interests of the company and country . . . Brian Molefe is returning as CEO at Eskom!
The carefully selected interim board chairperson even blamed Public Enterprises Minister Lynne Brown for his return – “when the proposed R30-million pension/bonus was refused by the minister, the board had no option but to withdraw its acceptance of Molefe’s request for early retirement and, by law, he automatically resumes as CEO under the same contractual terms as before”.
What a merry-go-round! What happened to the alleged corruption and fraud mentioned in the public protector’s report that implicated Brian Molefe based on his close ties and repeated contacts with the Gupta family? Or was this just drinks at the Saxonwold shebeen?
What about the advance payments made for coal contracts that were conveniently paid just as the Optimum mine was being sold? What about the dubious quality of Tegeta’s coal? What about the contract awarded to the step-daughter of his senior official?
All these were under Brian Molefe’s watch as CEO – now he can continue where he left off.
Perhaps the Guptas will rush back from Dubai? I wonder how the ratings agencies will respond to this move? Junk or below junk?