André de Ruyter, the next CEO of embattled Eskom, has experience trying to turn around struggling companies.
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Bond investors aren’t showing much faith in Eskom’s new boss, with yields on the company’s 2021 dollar bonds jumping the most in more than three months after the appointment of André de Ruyter.
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After months of speculation and delays, South Africa named André de Ruyter as CEO of its debt-crippled state power utility, surprising investors with an unexpected choice and angering a key union.
Andre de Ruyter has been appointed as CEO of Eskom, the debt-strapped utility that provides about 95% of the nation’s electricity and poses the biggest threat to its economy.