The CEO of South Africa Eskom, state power utility, Andre de Ruyter, will exit the company immediately as pronounced by the company’s board on Wednesday.
According to the company’s statement, the judgment was made after an unusual meeting between the now-former CEO and Eskom’s board.
Although, resigned from the contending utility in December, De Ruyter had consented to stay on the job until the 31st of March, while the utility are in search of a substitute.
Eskom, being in debt, has strived to meet the increasing need of power in South Africa for years which has resulted in prompt resignation calls at the company, public stress and business damages. At the moment, the company is carrying out the lowest level of power interruption that has ever been witnessed in the country.
The South African government declared its intentions on Wednesday to acquire beyond half of the company’s billion debt, $23 billion, which is 423 billion rand, for the next 3 years in order to assist in improving Eskom’s operations and balance sheet which will help in the change of the organisation.
