South Africa’s state owned power utility Eskom has announced the retirement of Group Chief Financial Officer Calib Cassim, who will leave the company during the financial year ending March 2027 after 24 years of service, according to Reuters and CNBC Africa. Eskom plans to appoint his successor before the end of 2026 to ensure a smooth leadership transition.
Cassim has been a central figure in Eskom’s financial and operational recovery. He served as acting Group Chief Executive for one year from February 2023 to January 2024, before Dan Marokane became permanent CEO. Cassim said he was confident the utility’s recovery would continue under its current leadership and that his successor would build on the progress already achieved.
His departure comes as Eskom reports a significant improvement in its financial position. The utility recorded a R30.3 billion ($1.88 billion) profit after tax for the financial year ended March 2026, more than double its restated R14 billion profit in the previous year. Eskom also reported only four days of power cuts during the year, compared with 13 days the previous year and a record 329 days in 2024.
For Eskom, the leadership transition comes at a critical moment as the utility seeks to sustain its operational recovery, strengthen its finances and reinvest in generation and transmission infrastructure. Cassim’s retirement marks the end of a long chapter, but Eskom’s latest results suggest the turnaround he helped drive is gaining momentum.
