‘Eskom an organisation in turmoil’
Eskom's decision to suspend four of its senior executives, could send a signal to the international financial markets that the organisation is in deep turmoil.
That's the reaction from energy expert Chris Yelland, following the announcement by the power utility that the executives would step aside while an independent inquiry is underway into various problems, including that of cash flow.
Yelland says he does not believe suspending top management will be beneficial for Eskom in the short-term.
“To have a sudden change in executive management will not be beneficial in the short-term, as it will bring disruption at a difficult time,” he said.
Tsotsi said the independent inquiry is not an investigation.
“This is not an investigation into any wrongdoing. It’s an honest down-to-earth inquiry to establish facts and get a baseline that will enable us to think clearly”, he said.
Yelland says the new board is concerned about the challenges Eskom is facing and did not believe management knows how to deal with them.
“The executives have been set aside because they have publicly said that they are opposed to the inquiry they know what the problems are they know how to tackle them,” he says.
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