The Eskom job is very much up for grabs but even as it comes with an attractive bonus package, so many might be put off by the excessive baggage.
It may come with a fat paycheque with lots of zeros and commas but taking the reins of South Africa’s state-owned power company, Eskom, is not for the faint of heart. At least, that was what outgoing Chief Executive, Phakamani Hadebe, learned the hard way when he announced his intention to step down from the position two months ago.
The power utility company is not having the best of times as it grapples with a crushing debt load and stifling operational problems. As it is, the job of running Eskom is very much up for grabs following the formal advertisement of a vacancy for the position but there’s a feeling that it is going to take someone with some courage to step up and shoulder what seems like a huge burden.
At the moment, the job is probably one of the most challenging there is – it demands controlling a company that supplies about 95 percent of South Africa’s electricity, has more than 47,600 employees and revenue of ZAR 190 Bn (USD 13.6 Bn) yet isn’t selling enough power to offset its costs.
The outgoing CEO is stepping down from his post at the end of the month because the “unimaginable demands” that come with the role have taken a toll on his health.
Whoever takes over affairs at Eskom will need to have what it takes to oversee a significant change in a complex organisation with at least 20,000 employees and an annual turnover in excess of ZAR 30 Bn. That’s what it actually said in the Eskom job advert.
Eskom also said in the advert that the new CEO will also play a leading role in restructuring the utility, including implementing plans to shuffle the company into generation, distribution and transmission units under a state holding company.
Having set the bar ever so high, Eskom is hoping to lure the best people into considering the role with an attractive executive-level package tailored to attract the right caliber candidate, subject to approved remuneration and incentive guidelines.
In truth, the job does come with a sizeable paycheque but resuscitating a company whose problems are so pronounced is will certainly be no cakewalk.
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