New Eskom CEO accused of dodgy dealings during time at Sasol

New Eskom CEO accused of dodgy dealings during time at Sasol

- Andre de Ruyter hasn't even started at Eskom and the dirt is already surfacing on his past

- The newly-appointed CEO has been accused of engaging in questionable dealings during his time at Sasol

- This comes after the findings of a forensic audit were released over the 2013 incident

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Five years later and deals Andre de Ruyter engaged in are being questioned following the release of a forensic audit.

IOL reports that the new CEO had been Sasol's senior group executive in global chemicals and North American operations at the time.

Christine Ramon, former chief financial officer, and De Ruyter have been accused of knowing about cost overruns at a project, selling stock before the information was handed to other executives, reports Bloomberg News.

While the duo has denied any wrongdoing and Sasol confirmed that the sales had been approved, the report sang another tune:

“It would appear that the information Mr. Andre de Ruyter and Ms. Christine Ramon had at their disposal was price-sensitive information when they traded their shares,’’ the report found, citing as evidence email communication between the executives and people working on the project over several months. Most of the emails were between De Ruyter and other employees; Ramon was copied on some of them."

READ ALSO: Breakdowns leave Eskom teetering on the verge of load-shedding

De Ruyter left the company in the same year, before the report had surfaced, despite a two-decade career.

He then went on to serve as CEO at packaging giant Nampak. This came to an end when he was appointed as the new boss at the power utility.

Briefly.co.za reported that de Ruyter's appointment had raised a few eyebrows, with some questioning the wisdom of appointing the leader of a company whose shares were performing poorly.

Nevertheless, Cabinet has asked the CEO to forgo any Christmas plans in favour of starting his new job ahead of schedule.

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Source: Briefly.co.za

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