With more than 20 years of experience at Eskom under his belt, Calib Cassim has taken the lead at the power utility until further notice following the ousting of CEO Andre de Ruyter.
AS THE country continues to face rolling blackouts that are reaching record highs, the appointment of Calib Cassim as the interim Eskom group chief executive officer has drawn mixed reactions from energy experts.
With more than 20 years of experience at Eskom, Cassim has taken the lead at the power utility until further notice following the departure of CEO Andre de Ruyter.
Cassim is a registered chartered accountant (SA) and holds a Master’s degree in business leadership (MBL). Cassim was appointed as Eskom’s chief financial officer (CFO) in 2018 after he served as its acting CFO from July 2017.
He was the general manager for Financial Planning and Economic Regulation, responsible for price application for electricity prices to the National Energy Regulator of South Africa (Nersa).
In this role, he provided strategic guidance to Eskom’s executive committee and board on key regulatory issues involving long-term financial plans and economic regulatory strategy, among others, in accordance with Nersa’s various pricing mechanisms.
In a statement, Eskom said Cassim’s qualifications and extensive experience have provided him with a deep understanding and appreciation of the Eskom business and the electricity industry, especially regarding the challenges facing the financing of operations and future expansion of the industry. Energy expert Chris Yelland said Cassim was a competent CFO and is the logical choice for an interim CEO.
“He is an existing director and on the board and he has the necessary experience in an executive position to hold the fort while they look for a permanent CEO. I don’t think he is being seen as a long-term appointment, but I see him as presently capable.
“It’s not the replacement of the CEO that changes the financial position (of Eskom). There are fundamental, structural and debt issues that do not change when you change the CEO. Any new CEO or acting CEO faces exactly the same problems as the previous ones,” said Yelland.
Sharing Yelland’s sentiments on Cassim, energy expert Tshepo Kgadima added that Cassim was an excellent financial officer but having him permanently as CEO won’t be viable.
“If you look at the pool of candidates that are there, Calib is a natural choice as an acting CEO until a new CEO is appointed. The biggest challenge now, other than energy availability, is (the financials of Eskom). The board made a responsible decision with Calib and he will have to be supported by people like engineers. He is no fool.
“I don’t think his appointment should be made permanent because Eskom now needs a candidate who can balance both the requirements of energy availability and Eskom’s financial crisis requirements.
“Calib is very strong financially but his operational knowledge is a lot lower than that. In order to turn things around, Eskom needs a very strong operational person with a very strong liability engineering background,” said Kgadima.
Cassim’s office declined a request for an interview.
