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.
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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.
South Africa has been promising for months to fix Eskom. While little tangible progress has been evident so far, several key decisions are due to be taken this month.
Debt-laden power utility Eskom has narrowed its search for a new CEO as the government finalises a plan to rescue the business.
Eskom has shortlisted three candidates for CEO to lead the loss-making utility out of its debt crisis, according to three people familiar with the process.
The chief executive role at Eskom, considered the most challenging job in corporate South Africa, is attracting interest from people who know how difficult turning around the debt-ridden state utility will be.