Eskom CEO Tshediso Matona, has mutually agreed to part ways with the power utility.
On Monday, Eskom described Matona’s departure as ‘amicable’.
“It is expressly noted that no misconduct or wrongdoing is alleged by Eskom against Mr Matona,” the utility said in a statement.
“Mr Matona believes that the agreement to part ways is in the best interest of Eskom, to allow the board to pursue its plans for the company under the current leadership.”
Eskom further said, the inquiry by the power utility’s board will continue however, Matona’s suspension will fall away.
“The separation is also by no means an anticipation of the outcomes of the inquiry, the latter whose objective is to enable the organisation to deal with its challenges.”
Eskom spokesperson Khulu Phasiwe expanded on this and told CNBCafrica.com that, “The investigation will continue but if other people are asked to come in and report to the board, Mr Matona will be excused from this”.
Asked whether Matona was being paid out for his resignation, Phasiwe said, “The details of the settlement remain confidential between Mr Matona and the Eskom board. These details will be made available at the end of our financial year”.
The power utility continued to thank Matona for his contribution during his time at the parastatal.
“Having considered his contribution at Eskom, and his vast professional and leadership experience, Eskom is of the view that Mr Matona can still play a vital role for South Africa, whether within commercial business or the Public Service sector,” Eskom said.