Eskom CEO says appointments based on performance and delivery

ShaunSA said:
No chance of those. Also didn't they say he took a pay cut?
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People just failed to read and Jamnadas was being his usual sly ANC self with that statement. The salary for the Eskom CEO position had to be cut because of the obvious Eskom financial position, so he is earning slightly less than what he could have earned if Eskom was healthy, it does not necessarily imply he is earning less than what he earned at Nampak.
 
TheChamp said:
It's an unfortunate comment because it plays into the very racist narrative of black versus white that the likes of Tshitangano are peddling.

How does Tshitangano suddenly turn into "Eskom pigmented employees"?
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The only people laying complaints against De Ruyter are black, yes?
 
TheChamp said:
People just failed to read and Jamnadas was being his usual sly ANC self with that statement. The salary for the Eskom CEO position had to be cut because of the obvious Eskom financial position, so he is earning slightly less than what he could have earned if Eskom was healthy, it does not necessarily imply he is earning less than what he earned at Nampak.
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I can use many choice words to describe Jamnadas. Sly would not be one of them.
 
ShaunSA said:
Why did De Ruyter take on the job anyways?
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Think about it from this point of view, he is a relatively successful CEO who was at the helm of a company that was being battered left and right with some bad investments and market moves beyond our borders (from what I remember). He would probably struggle to get a CEO position outside of SA with his resume.

IF he manages to turn Eskom around, he will be among the select few on this planet who will be able to pick and chose their CEO roles anywhere on the planet.
 
R13... said:
Look at the company's performance during his tenure. He got it doing well and nearly collapsed the share price and they're still battling.
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A fair chunk of that was effects from before his tenure though from what I read... business moves into Africa that went south and south badly with forex debt which heavily hurt the business.
 
R13... said:
Look at the company's performance during his tenure. He got it doing well and nearly collapsed the share price and they're still battling.
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Much, much more complicated than that...

The fact that Nampak’s share price sank during his time there seems to have been caused by regulatory problems in African countries rather than any fault of his.

Do you know anything about the business and history of Nampak at all? Including the Nigerian and Angolan crisis in 2015?

Nampak already had a net debt ratio of 73% in 2014, when De Ruyter was appointed. This was because the company expanded into those two African countries, but a collapse in the oil price led to the company incurring multimillions of US dollars in debt.

It's all about context...he saved NAMPAK from going down completely.
 
De Ruyter would have been extremely ignorant not to have recognised that he was walking into a shitstorm of obfuscation, false allegations, racial hatred, jealousy, spite, lies and corruption. He must make sure he enjoys it while he is still untouchable. Once he no longer serves a purpose he will likely be thrown to the wolves.
 
Milano said:
De Ruyter would have been extremely ignorant not to have recognised that he was walking into a shitstorm of obfuscation, false allegations, racial hatred, jealousy, spite, lies and corruption. He must make sure he enjoys it while he is still untouchable. Once he no longer serves a purpose he will likely be thrown to the wolves.
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AKA huge golden handshake....I'm sure his contract came with A LOT of monetary clauses etc.
 
MightyQuin said:
Much, much more complicated than that...

The fact that Nampak’s share price sank during his time there seems to have been caused by regulatory problems in African countries rather than any fault of his.

Do you know anything about the business and history of Nampak at all? Including the Nigerian and Angolan crisis in 2015?

Nampak already had a net debt ratio of 73% in 2014, when De Ruyter was appointed. This was because the company expanded into those two African countries, but a collapse in the oil price led to the company incurring multimillions of US dollars in debt.

It's all about context...he saved NAMPAK from going down completely.
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True, then add AA and BEE.

And the business context: Paper and Packaging. Everyone who has watched The Office knows that The Dunder-Mifflin company also went down.
 
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