Eskom CEO De Ruyter Starts Duties at Utility’s Headquarters

Eskom Holdings SOC Ltd.’s Chief Executive Officer Andre de Ruyter started his role at South Africa’s indebted utility on Monday. De Ruyter is the first permanent leader of Eskom since the end of July, when Phakamani Hadebe stepped down, citing health reasons, Bloomberg News reported. He began work at the company’s headquarters in Johannesburg, an Eskom spokeswoman said in a reply to questions. The state-owned utility is set to be restructured to turn the loss-making business around and try to emerge from 450 billion rand ($31.4 billion) of debt. Eskom’s operations are equally troubled by an aging fleet of unreliable coal stations that haven’t been properly maintained and new units that are defective. The utility implemented power cuts on Jan. 4 and 5 because it could not meet demand. Read more