As the new CEO has no public-side experience, the market is not sure about him lasting long at Eskom, trader Michelle Wohlberg says
New Eskom CEO Andre de Ruyter. Picture: BLOOMBERG/WALDO SWIEGERS
De Ruyter, CEO of packaging company Nampak, has considerable corporate experience, though not at a utility. His appointment comes at a time when Eskom is undergoing a transformation that will require technical and financial knowledge as well as the ability to deal with the government and labour unions.
Yields on Eskom’s $1.75bn of securities due in 2021 climbed 32 basis points on Tuesday to 5.47%, the highest in almost eight weeks, after jumping 17 basis points on Monday. The yield spread of the 2021 notes over 2028 bonds narrowed 31 basis points in the two days.
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DA says new Eskom CEO Andre de Ruyter has 'unenviable task' ahead | IOL NewsDA chief whip Natasha Mazzone on Monday congratulated newly appointed Eskom chief executive Andre de Ruyter, adding that ...
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Andre de Ruyter: four things you need to know about the new Eskom CEODe Ruyter has a bachelor's degree from the University of Pretoria, a master of business administration.
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Andre De Ruyter appointment at Eskom draws mixed reactions | IOL NewsThe embattled state entity has not had a permanent CEO since the resignation of Phakamani Hadebe in July.
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UPDATE: De Ruyter agrees to lower salary to lead EskomNampak CEO Andre de Ruyter replaces former CEO Phakamani Hadebe, who stepped down in July.
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JUST IN: Government appoints Nampak's de Ruyter as CEO of Eskom | IOL Business ReportDe Ruyter will leave his post at packaging group Nampak and is set to commence his role at Eskom on January 15.
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ANC welcomes appointment of De Ruyter as Eskom CEOThe ANC said Andre de Ruyter's appointment was an opportunity for South Africans to work together towards fixing Eskom.
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