By Ukumbi Afrika 
Johannesburg—State-owned power utility Eskom has announced that Group Chief Financial Officer Calib Cassim will retire during the financial year ending March 2027, marking the departure of a senior executive who has spent 24 years with the utility.
Cassim, who has served as Eskom's CFO since 2018, also spent about a year as acting Group Chief Executive from February 2023 to January 2024. Eskom credited his contribution to the utility's operational recovery and return to profitability.
The announcement comes as Eskom reports a stronger financial position. The utility recorded a R30.3 billion ($1.88 billion) post-tax profit for the financial year ended March 2026, more than double its restated R14.0 billion profit a year earlier.
Eskom said its board has begun the succession process and aims to have Cassim's replacement in place before the end of the 2026 calendar year, allowing for an orderly leadership transition.
Cassim said he was confident that his successor would build on the progress achieved under the current leadership team.
Cassim's departure comes at a critical point in Eskom's turnaround, as the utility seeks to sustain profitability, improve electricity reliability and strengthen its financial position while addressing persistent challenges including municipal debt and declining electricity sales.
Source: Reuters
Reporting: Sfundo Parakozov & Anathi Madubela
Editing: Louise Heavens