Eskom’s Group Treasurer resigns after eight years

Eskom confirmed in a media statement that Group Treasurer Mr Andre Pillay will be leaving at the end of August. Pillay has been with the power utility giant since 2011.

He was appointed as Senior Manager for Funding Execution in Eskom’s treasury department and was promoted to the position of General Manager in September 2016.

During his time at Eskom

Pillay has been responsible for negotiating funding with Export Credit Agencies (ECAs) and Development Funding Institutions (DFIs). According to the statement:

“Andre’s contribution to the successful execution of the Eskom Treasury mandate has been immeasurable and we appreciate the role that he played in ensuring that Eskom’s funding plans were successfully executed year after year.”

In addition, he was also responsible for the registration and execution of the current Global Medium Term Note (GMTN) and Domestic Medium Term Note (DMTN) and engaging with investors and credit rating agencies.

Eskom understands how “critical the Group Treasurer is” and have asked Pillay to remain in the position for an extra month “to ensure a seamless transition” and handover process.

Eskom’s Chief Financial Officer, Calib Cassim, said they trust that the Treasury operations will continue with ease and said Eskom will announce Pillay’s replacement in due course.

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Who is Andre Pillay

Mr Pillay has more than fifteen years’ experience in the Fixed Income Market and Money and Capital Markets. In addition, he has trading experience in the bond and interest rate derivative markets.

During his time in the private sector, Pillay was a bond portfolio manager and also responsible for asset liability matching. He also served at the South Africa National Treasury as Chief Director responsible for Liability Management for five years.

Pillay joined the South African Reserve Bank as Head of Reserves Management in 2009. He moved to Eskom Treasury two years later where he was Senior Manager until his appointment as Treasurer in 2016.

“Eskom thanks Andre for his passionate dedication and contribution towards managing Eskom’s liquidity through some of the most challenging times for the company and wish him the best in his future endeavours.”

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