Johannesburg, South Africa -12 May 2017
The decision taken by the Eskom Board of Directors to reappoint Mr. Brian Molefe is not in the interest of good governance and it makes a mockery of black leadership, particularly in State Owned Entities. In our condemnation we would like to highlight the following:
Firstly, Mr. Molefe himself stated that his resignation from Eskom was in the best interest of good governance. His return to Eskom before being cleared on the allegations that made him leave then nullifies good governance.
Secondly, the process of finding a new CEO was still underway. What legitimate reasons on this reappoint will be given to the candidates who were subjected to the process?
Thirdly, the Board of Eskom has clearly breached its fiduciary duty. It did not act in the best interest of the company since its decision puts the individual ahead of the entity. We are now questioning all its other decisions.
Finally, the BMF will seek a meeting with the leadership of Eskom to engage on this matter. In addition, the BMF will request a separate meeting with Minister Lynne Brown to engage on this matter and other related matters.
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