Brown sad to lose someone of Molefe's calibre
Public Enterprise Minister Lynne Brown says she's saddened by Brian Molefe's resignation, but respects his decision.
Molefe announced his resignation today.
His resignation as CEO will come into effect on 1 January 2017.
Brown says it is always sad to lose an executive of Molefe's calibre.
"Molefe has been instrumental in developing Eskom's turnaround strategy which is beginning to yield positive results."
His resignation comes after he was implicated in the former Public Protector's "State of Capture" report.
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The minister says she will ensure there is stability within the company.
"I want to reassure the country that as Shareholder Representative, I will work closely with the Board to ensure that the company remains stable.
"I am confident that Mr Molefe leaves a strong Executive team in place to continue to deliver on Eskom's mandate and implementation of the turn-around strategy."
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Brown says Molefe leaves the company at a time when Eskom's mid-term results showed an improvement.
"The mid-term results released last week showed that Eskom's liquidity improved; revenue increased by 10.5% year-on-year to R97.1 billion; the accelerated maintenance programme improved plant availability from 71.23% to 78.50%; unplanned breakdowns improved from 14.75% 9.72%; and we have had 460 days without load shedding."