Eskom, the monolithic state-owned power utility that’s grappling with an unsustainable debt load and chronic operational problems, has advertised for a new CEO two months after Phakamani Hadebe announced he’d vacate the post.

The job is probably one of South Africa’s most challenging — it entails overseeing a company that supplies about 95% of the nation’s electricity, has more than 47 600 employees and revenue of R190-billion yet isn’t selling enough power to cover its costs. Hadebe said he would quit at the end of this month because the role comes with “unimaginable demands” that have taken a toll on his health.

The new CEO is required to have experience overseeing “significant change in a complex organisation with at least 20 000 employees and an annual turnover in excess of R30-billion,” Eskom said in its advertisement. He or she will also play a leading role in restructuring the utility, including implementing plans to split it into generation, distribution and transmission units under a state holding company.

“A competitive executive-level package will be tailored to attract the right calibre candidate, subject to approved remuneration and incentive guidelines,” Eskom said.

Other requirements include a university degree, ideally at a postgraduate level, 20 years’ work experience and strong commercial acumen, while experience and expertise in the engineering, construction and energy fields will be an advantage. Applications close on 2 August. — Reported by Paul Burkhardt, (c) 2019 Bloomberg LP