Africa's largest integrated communications company Telkom has appointed Sipho Maseko, a former MD at rival telecommunications group Vodacom, as its new CEO. He will replace Nombulelo Moholi at the end of March.
"The appointment of a seasoned executive with telecommunications experience is another building block in Telkom's turnaround process," Telkom chairman Jabu Mabuza said in a statement. "The objective of Telkom's turnaround is to deliver a sustainable performance. It is a strategy that requires a strong leadership team with the ability to ensure performance and execution and gain the support of all its stakeholders."
Mr Maseko left Vodacom last June, less than a year after taking on the role of MD. He also served as chief operating officer for the group.
Telkom also announced that it is appointing Dr Brian Armstrong as Group Chief Operating Officer.
"The Board has full confidence in the capabilities of our new Group Chief Executive to be a strong strategic leader, able to gain the support of all stakeholders in dealing with Telkom's turnaround challenges. We are also confident that the appointment of Brian Armstrong as Group COO ensures business performance for our customers during the turnaround process," added Mr Mabuza.
Eight months ago South Africa's Communications Minister Dina Pule was tasked with turning the company around after the Cabinet objected to a proposal by KT Corp to buy a 20 percent stake in Telkom last year. Telkom shares have plummeted amidst the uncertainty.
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