Saturday, June 28, 2008

Annual bonuses for Eskom's management forfeited

By Ilhaam Hoosain
27 June 2008

Top management at Eskom will not be receiving their annual bonuses this year, after troubled months for the state-owned power utility.

Eskom’s CEO Jacob Maroga has decided not to take any bonus this year, because of the tough year Eskom's had, this is according to Chairperson Valli Moosa.

The SABC also reports that Moosa says the utility had planned to pay Maroga a good bonus, without giving any details.

The bonuses of another five senior executives, including Finance Director Bongani Nqwababa and Chief Officer of Systems Erica Johnson will be halved.

Moosa says Eskom is reviewing the way they determine bonuses since it is currently based on the utility having excess power capacity.


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