With the departure of both Phakamani Hadebe and André Pillay, Eskom has lost key talent -- both are specialists in the fixed income debt category. Pillay says he has been offered a job elsewhere.
Eskom's bond investors must brace themselves to deal with new faces in the executive team. Again. A month after losing its 12th chief executive officer in 12 years, Eskom will bid farewell to yet another senior executive at the end of August. André Pillay has resigned as group treasurer after almost three years in the position, the utility confirmed in a media statement on Monday 15 July 2019.
As treasurer, Pillay is key to delivering on Eskom's funding plan, which needed to raise more than R52-billion from bond and other debt investors in the year ended March 2019. The funds are required to execute the utility's R300-billion in capital investments in new power stations. About the same amount will be raised from such funders in the 2019/20 financial year.
Out the revolving executive door at the Megawatt Park headquarters, Pillay's departure follows close in the footsteps of Phakamani Hadebe, the utility's 12th CEO since 2007, who will be leaving at the end of July 2019. The...