• Most Popular
  • Most Shared

S.Africa's Eskom says Jacob Maroga no longer CEO

Thu Nov 12, 2009 5:46am EST

JOHANNESBURG, Nov 12 (Reuters) - South African power utility Eskom [ESCJ.UL] said on Thursday Jacob Maroga was no longer chief executive officer, putting an end to a long leadership battle at the troubled state-owned power group.

Stocks  |  Bonds  |  Global Markets

Eskom's acting chairman Mpho Makwana told a press conference that he had been entrusted to run the company until the appointments of a new chairman and CEO. Over the past two weeks, Maroga dismissed reports by Eskom's board members who said he had resigned at the latest board meeting following a clash with the company's chairman Bobby Godsell, who stepped down on Monday. [ID:nLB111692]

Maroga's tenure has been marked by power shortages, a record loss of 9.7 billion rand ($1.31 billion) in the year to March and electricity price rises criticised for stoking inflation as South Africa battles recession. [ID:nLR677617] (Reporting by Agnieszka Flak)

Stocks
Bonds
Global Markets


More from Reuters

Photo

China's Geely agrees Volvo buy, BAIC eyes expansion

BEIJING/STOCKHOLM (Reuters) - China's automakers Geely and BAIC pushed ahead with plans to harness the technology of Ford's and General Motors' ailing Swedish brands Volvo and Saab in a bid to be global industry players.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
A condominium under construction is seen in Miami, Florida October 15, 2007. REUTERS/Carlos Barria

Booming in the bust

For most Americans, the housing market collapsed about four years ago. For three real estate heavyweights, it's just getting started.  Full Article 

Housing Market