In a significant development for South Africa's energy landscape, Daniel Leseja Marokane has been appointed as the Chief Executive Officer of Eskom, the country's state-owned power utility. Minister of Public Enterprises Pravin Gordhan announced the appointment on Friday, setting a deadline for Marokane to assume the role by March 31, 2024.
Marokane's appointment as Eskom's CEO promises crucial stability to the beleaguered state-owned power utility. Eskom has grappled with persistent challenges, including operational inefficiencies and South Africa's ongoing power crisis. Marokane's return, marked by his resilience and proven track record, comes at a critical juncture for the energy giant.
With Eskom's CEO position vacant since February 2023, Marokane's leadership is expected to provide a strategic and operational turnaround. His extensive experience in managing distressed organizations and financial restructuring positions him as a valuable asset in steering Eskom toward a more sustainable future.
The power utility, essential for economic stability and growth, has faced systemic issues that have contributed to the country's electricity supply challenges. Marokane's appointment is seen as a proactive measure to address Eskom's immediate operational and financial issues, aligning decisions with industry evolution and the imperative of the Just Energy Transition. Marokane, currently the acting CEO at Tongaat-Hulett, will transition from his role after completing the handover process. Gordhan highlighted Marokane's resilience in facing challenges, energetic drive, and ethical grounding as key factors contributing to his selection.
Previously serving as the head of group capital at Eskom, Marokane's return comes after his forced exit in 2015. The State Capture Inquiry revealed a plot by the Guptas and former President Jacob Zuma, characterizing Marokane's suspension as a crucial step towards the capture of Eskom by the Guptas.
Eskom Chair Mteto Nyati expressed confidence in Marokane's ability to lead, citing his experience in managing strategic, operational, and commercial turnarounds across various sectors.
Nyati emphasized the need for a leader who can hit the ground running, aligning with Eskom and South Africa's current needs. Marokane, honoured by the appointment, expressed his commitment to working with the leadership team, Eskom Board, government shareholders, and other stakeholders. He highlighted key priorities, including the Generation Recovery Plan, creating transmission capacity, and navigating Eskom towards a sustainable future.
The Eskom CEO position had been vacant since February 2023 when former CEO André de Ruyter resigned abruptly. Marokane emerged as the preferred candidate after a complex and controversial appointment process marked by delays and tensions between the board and Gordhan. Marokane holds a BSc in chemical engineering from the University of Cape Town, a Master's Degree in petroleum engineering from the University of London, and an MBA from UCT, bringing extensive experience to the role.
His track record includes managing distressed organisations, visible turnarounds, and financial restructurings. In his recent assignment at Tongaat-Hulett, Marokane took charge of the financially distressed business following an accounting scandal. Eskom anticipates that his expertise will be instrumental in leading the company through its ongoing challenges. Marokane's return to Eskom is significant not only for his leadership qualities but also for his ethical stand against state capture, fraud, and corruption.
Eskom, facing operational and financial challenges, looks to Marokane to guide the company through a transformative period aligning with the Just Energy Transition. As Marokane prepares for the transition, Eskom anticipates a new era under his leadership, with a focus on operational efficiency, financial sustainability, and aligning decisions with the evolving energy industry landscape.
