South Africa

Mateza steps down from Eskom pension fund

JOHANNESBURG - THE ESKOM Pension and Provident Fund (EPPF) board of trustees yesterday in a statement said that Linda Mateza, the chief executive and principal officer, had chosen to step down from her role in order to significantly reduce her work commitments to spend more time with her young family.

The fund has around R150 billion under management with 80 000 active members.

Mateza would serve her notice period until March 31, 2021, to ensure an effective handover of management of the fund.

The statement said Mateza would be working with the board on the process of appointing a new chief executive and principal officer in a search that would be open to internal and external candidates in line with the robust governance structures of the fund.

“The board and the EPPF's management team will continue to remain focused on the overall effectiveness of the fund and meeting its members' requirements.”

Caroline Henry, the chairperson of the EPPF board, said: “On behalf of the board of trustees, I would like to thank Ms Mateza for the leadership she has demonstrated during her time at the fund. With her guidance, the fund continued to deliver the investment returns and incrementally improve its member services as required of a selfadministered defined benefit fund, a task made significantly more challenging by the historic market volatility as a result of Covid-19. Under Ms Mateza's leadership the fund paid a special bonus to our members,”

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