Payouts galore for former execs

ESKOM is involved in negotiations with its suspended chief financial officer, Tsholofelo Molefe, to finalise an exit package for her.

Eskom’s acting board chairman, Ben Ngubane, said yesterday that negotiations with Molefe were at an advanced stage. “We are consulting with [Molefe’s] lawyers and we believe a mutual solution would suit both parties.”

He said, however, that talks with the former group executive for the technology and commercial divisions, Matshela Koko, had broken down.

Earlier this month Business Report wrote that Eskom was locked in talks with Molefe and Koko following the sudden resignation of the former head of group capital, Dan Marokane – exactly two weeks after the former chief executive, Tshediso Matona, left following a settlement with Eskom.

Ngubane indicated that talks with Koko had not yielded results as yet.

He said Koko would be ques- capacity at our disposal, and if Eskom has indeed escalated its maintenance, there should be very little worry – except if major problems arise like a simultaneous shutdown of one or two stations.”

Molefe defended Eskom’s tioned by the American-based multinational law firm Dentons. The firm is conducting a threemonth inquiry into Eskom’s financial woes.

The utility said it expected the report into Eskom’s troubles to be presented to its board and executive by the end of next week.

Acting chief executive Brian Molefe said he would be open to leading the power utility were he approached.

He was initially given three months in an acting position by Public Enterprises Minister Lynne Brown.

“The agreement is that I am here until mid-July,” Molefe said. “Until further notice, that is the position. If there are any changes, I’m sure the [Eskom] board and the minister will communicate.”

Ngubane said that there was “nothing stopping Eskom from furthering discussions” with Brown.

“We are aware Molefe’s time is coming to an end,” he said. – Sechaba ka’Nkosi use of diesel and coal supplies. He said they were necessary evils in avoiding long periods of load shedding and the resulting implications for the economy.

He said coal stocks were healthy at 50.4 days, against a target of 51.2 days.