Eskom

Former Eskom executive set to return as CFO?

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Former Eskom executive set to return as CFO Staff Writer <mybroadband.co.za/news/author/staff-writer>3 June 20183 Comments <mybroadband.co.za/news/business/262955-former-eskom-executive-set-to-return-as-cfo.html#disqus_thread> [image: Former Eskom executive set to return as CFO] <mybroadband.co.za/news/business/262955-former-eskom-executive-set-to-return-as-cfo.html> Subscribe 33 shares <twitter.com/intent/tweet/?text=Former+Eskom+executive+set+to+return+as+CFO%20https://mybroadband.co.za/news/business/262955-former-eskom-executive-set-to-return-as-cfo.html&via=mybroadband>
Former Eskom financial director Paul O’Flaherty is likely to return to the company as its new chief financial officer, according to the Sunday Times.
O’Flaherty worked at the power utility from 2009 to 2013, where he created a funding plan to improve the company’s operations and systems.
He left Eskom at a time when the company had started to suffer under the effects of bad governance and state capture.
Sources told the Sunday Times that O’Flaherty was the only recommendation the board had made to Public Enterprises Minister Pravhin Gordhan, who is responsible for all CEO and CFO appointments at state-owned enterprises.
“He knows where the bodies are, that’s part of the reason why he is being recommended,” said the sources.
O’Flaherty previously held the position of CEO at ArcelorMittal South Africa, and is currently working in Dubai.
When asked for comment, O’Flaherty stated he would not respond to speculation.
Eskom has come under scrutiny of late for multiple financial and operational irregularities, including its *failure* <mybroadband.co.za/news/energy/259837-gupta-owned-coal-supplier-rakes-in-cash-while-eskom-struggles.html> to enforce contractual obligations against Gupta-owned coal supplier Tegeta.
A lack of coal from Tegeta’s largest mine resulted in shortages at numerous power stations, culminating in Eskom’s request for aid from Treasury to avert an energy crisis. Now read: Eskom spent R1.9 billion on advisors <mybroadband.co.za/news/energy/257999-eskom-spent-r1-9-billion-on-advisors.html>