Eskom announces CEO Phakamani Hadebe has resigned for health reasons

His resignation will come into effect at end-July, and no interim CEO has been announced.

Eskom announced on Friday that CEO Phakamani Hadebe will step down from his position at the end of July. No interim CEO has been announced.

Phakamani stated that he is resigning for health reasons. “It is no secret that this role comes with unimaginable demands which have unfortunately had a negative impact on my health. In the best interests of Eskom and my family, I have therefore decided to step down."

However, he stated that it has been a privilege to serve South Africans as the chief executive of Eskom. “I am humbled and grateful to have contributed towards the stability for an organisation that is critical for our economy. I am particularly grateful to the board, the exco, and all our employees for their resilience and support during this journey.”

According to Eskom board chairperson Jabu Mabuza, Phakamani has been instrumental in driving stability at the power utility during a very challenging period at the organisation.

He said:

“We have learnt to depend on his resilience to drive the kind of transformation that South Africa expects of our organisation. Appreciating the toll that this takes on an individual, we have had to, with regret, accept his decision.”

Phakamani was appointed as CEO a year ago, after serving as acting CEO for four months.

Eskom is expected to present its financials to the board on Tuesday and it is anticipated that it will report a loss of upwards of R20 billion.