Eskom’s 2016/17 annual report is awaited with bated breath as it might come to clarify and settle the Brian Molefe matter.
This is after Molefe who served Eskom for 18 months had secured R30 million payout. This caused a national outcry and was annulled by the minister of public enterprises, Lynne Brown.
Molefe was subsequently given his old job back after he had quit to become a member of parliament. That return has since been rescinded which leaves the Molefe payout hanging.
Molefe, former CEO of Transnet and the Public Investment Corporation joined Eskom in 2015 after the disastrous Tshediso Matona tenure.
Molefe was credited with stemming the load shedding tide. He earned a total of R9.4 million during the 2015/16 financial year in package made by a basic salary of R6.9 million topped by various performance incentives.
Molefe’s package outstripped those of fellow executives by far. Excluding Molefe’s package the average basic salary of Eskom executives was about R2 million, as reflected in the table below.
Eskom also pays its non-executives directors well. The chairperson of the board Ben Ngubane earned R1.1 million during the 2015/16 financial year.
|Eskom 2015/16 Executive Pay (Rand in Millions)|
|Total Exec Dir||75,3||50,6|
|STI = Short Term Incentive; LTI = Long Term Insurance|
|Standard Bank 2016 Non Exec Remuneration (Rands in Million)|