Huge pay day for ousted Eskom executives
Two suspended Eskom executives who recently agreed to resign received large severance packages to go quietly, the Sunday Times reported.
The newspaper said former Eskom CEO Tshediso Matona and former group capital executive Dan Marokane received packages equal to about 18 months salary.
Matona spent only 7 months at Eskom as CEO and the utility’s financial statements show that he was paid about R4.7 million during the 2014 financial year.
This suggests that Matona’s severance package will be over R7 million, which is high considering the short time he was at Eskom, the Sunday Times stated.
The report also detailed a letter that Marokane sent to Eskom’s former chairman Zola Tsotsi on 18 March, raising questions about why the executive was sidelined.
Marokane’s resignation was confirmed on 1 June, while Matona resigned on 18 May.
Eskom declined to comment on the matter.
The full report is available in the 21 June 2015 edition of the Sunday Times.
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