Eskom's new chief executive took charge of the struggling state-owned utili...
JOHANNESBURG - Eskom’s new chief executive took charge of the struggling state-owned utility on Monday, embarking on the mammoth task of fixing South Africa’s power deficit and restructuring a debt pile that has crippled the national economy.
Andre de Ruyter, appointed by President Cyril Ramaphosa in November, will oversee a government plan to split Eskom into three units for generation, transmission and distribution in an attempt to make it more efficient. Saddled with unreliable coal-fired power stations, Eskom has struggled to meet the country’s power demand since 2007, with several bouts of severe power cuts since then. Outages last year dented economic output and shook investor confidence in Ramaphosa’s administration.
In a previous role as CEO of Nampak de Ruyter steered the packaging firm through financial difficulties, and part of his new brief is to restructure Eskom’s 450 billion rand debt pile.
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