Maria Ramos tipped to head up Eskom unbundling: report

Former Absa CEO, Maria Ramos, has been tipped to head up the unbundling of Eskom into three different components.

The Sunday Times reports that Ramos is the favourite to take up the new role of chief reorganisation officer (CRO) at the power utility.

In this role, she would be responsible for representing the government in overseeing Eskom’s finances, contracts, and maintenance of facilities.

The CRO will report directly to the board and the ministers of finance and public enterprises.

President Ramaphosa said in February that Eskom is to be split into three different companies operating under one holding company.

This would see Eskom split into a generating, transmission and distribution company, each with its own strategy and structure.

In his February budget speech, finance minister Tito Mboweni said that further financial support for Eskom would be conditional on the appointment of a CRO by the ministers of finance and public enterprises.

Retirement

At the end of January Ramos announced that she would be retiring as the long-standing CEO of the Absa Group.

Ramos has been CEO of the group for a decade, and has led the company through many significant milestones, including its acquisition by and subsequent unbundling from Barclays PLC.

“Ramos had indicated a desire to step down earlier, but agreed to see the group through the separation negotiations with Barclays PLC, the ensuing sell-down and key separation milestones, including PLC achieving regulatory deconsolidation and refreshing Absa’s brand identity,” the group said.

“With the separation on track and our new strategy as a standalone financial institution in place, Maria feels that this is the right time to retire. She has chosen to retire when she turns 60 in February and is eligible to do so.”


Read: Absa CEO Maria Ramos to retire

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Maria Ramos tipped to head up Eskom unbundling: report