By Enyichukwu Enemanna
The CEO of South African state-owned company, Andre de Ruyter, has been “released” from his job “with immediate effect,” the company said Thursday in a statement.
The CEO is leaving his job earlier than planned, after accusing high level officials of corruption.
His exit came the same day South Africa’s finance minister announced a massive bailout for the embattled company struggling with debt loads amid record power cuts.
De Ruyter submitted his resignation late last year, saying he was unable to turn the graft-riddled utility around.
Shortly afterward, he alleged that there was a poisoning attempt on his life.
However, he had been set to serve out his notice period until the end of March and a replacement has not yet been found.
News of his early departure came shortly after de Ruyter gave an explosive interview on local TV this week accusing high level cabinet officials of being aware of and accepting corruption.
Eskom spokesman Sikonathi Mantshantsha said the board had convened a special meeting on Wednesday during which it was mutually agreed to curtail his notice period.
“The board further resolved that Mr. de Ruyter will not be required to serve the balance of his notice period but that he will be released from his position with immediate effect,” he said.
Earlier this month, South African President Cyril Ramaphosa declared a national state of disaster because of the electricity crisis.
The power cuts, known as “loadshedding,” are meant to reduce pressure on the overstretched grid, with its many aging and badly maintained coal-fired power stations regularly breaking down.
Sometimes running for as long as 12 hours a day, the blackouts have hit Africa’s most industrialized economy hard, said Finance Minister Enoch Godongwana in his budget speech Wednesday.
He then announced a large bailout for the company, which is $23 billion in debt.
“The lack of reliable electricity supply is the biggest economic constraint,” he said. “Record levels of load shedding were experienced in 2022. I’m told 207 days of load shedding.”
