Eskom bosses forgo bonuses

Now here is a good news story from Business ethics direct:

Eskom boss forgoes bonus
Eskom top boss Jacob Maroga has decided to give up his performance bonus. And the rest of the executive board committee members will only be receiving 50%, reports the Cape Times. This announcement was made by Eskom’s non-executive chairperson Valli Moosa who said there had been much speculation about the bonuses and high remuneration of Eskom’s management. Moosa said Maroga had conducted himself particularly well during the crisis. ‘We took his performance during the crisis into account and concluded that he deserved his bonus and had the right to one,’ Moosa said. ‘However, Maroga came to a meeting with me and said that because of the tough times the company was going through, he was of the view that it would not be right to take his bonus.’

From where I’m sitting all due credit to Mr Maroga and his Executive team – particularly as they are probably working harder now than at any other time in the past.  Why the delay though?  Here was a brilliant opportunity to do the right thing right at the start (I suspect the Eskom remuneration committe would have made it up to the team in the future anyway (assuming the performance metrics were achieved).  But let me not detract from this report in the Cape Times.  It’s never too late to do the right thing and all due credit to Mr Maroga and his Executive team.  Be inspired.