This little story was a breath of fresh air. Someone actually taking a meaure of responsbility for an absolutely shocking state of affairs. Well done Mr. Maroga!
Eskom boss says no
Eskom top boss Jacob Maroga has decided to give up his performance bonus.
And the rest of the executive board committee members will only be receiving 50 percent.
This announcement was made by Eskom’s non-executive chairperson Valli Moosa.
Speaking in Johannesburg on Thursday, he said there had been much speculation about the bonuses and high remuneration of Eskom’s management.
Moosa said Maroga had conducted himself particularly well during the crisis.
He had his annual performance assessment done by the board which had decided he deserved one.
“We took his performance during the crisis into account and concluded that he deserved his bonus and had the right to one,” Moosa said.
“However, Maroga came to a meeting with me and said that because of the tough times the company was going through, he was of the view that it would not be right to take his bonus.”
No details of the amount Maroga was due to receive were given but a recent report – which covers the period February 2006 to March 2007 – shows that Thulani Gcabashe, the former chief executive, took home a R6,1-million package, received a R689 000 housing loan and R4-million in bonus shares.
It was reported that Gcabashe earned R13-million in 2005.
In the same report Jacob Maroga, who in May 2007 took over the hot seat vacated by Gcabashe from his previous role as managing director of the transmission division, earned R2-million picked up a bonus of R1,1-million and had a R3,1-million housing loan.
Moosa said Maroga told him because he was chief executive he had to take responsibility.
“We have to respect his decision but this only proves why he, in fact, deserved the bonus. He is also sending a message to his staff that it is more about his team and staff, and not about the bonus,” he said.
Regarding the other five exco members, Moosa said the board had decided to give them 50 percent of their bonuses.
“They have the right to it,” he said.
Moosa refused to reveal the amount that Maroga would have been paid.
He said the bonuses the exco members will receive, would be revealed in the financial statements to be released on July 17.
When asked if any action had been taken against board members who had been dropped during the restructuring after the crisis, Moosa refused to comment.
Moosa said Moraga took the job, not knowing that he was going to be facing the crisis the parastatal has been through.
“During the crisis, he acquitted himself excellently. It called for leadership qualities which are rare and which he has. He not only had to deal with the entire South African public, but the stakeholder, and 30 000 internal staff members,” said Moosa.