Telkom announced on 1 June 2010 that Reuben September will retire as Group Chief Executive Officer ("GCEO") and resign his directorship at the expiry of his contract.
Having regard to the uncertainty which prevails during such transition periods, Reuben September has agreed with the Telkom Board to step down as GCEO and resign as a director from 7 July 2010. He will assume a consulting role until 1 November 2010.
The Telkom Board has commenced a process to appoint a new GCEO. In the interim Mr Jeffrey Hedberg has been appointed as Acting GCEO.
The Telkom Board believes that these arrangements provide leadership, continuity and stability at an important time given a number of key strategic and operational deliverables.
A successor to Mr September will be announced in due course.
09 July 2010
Sponsor: UBS South Africa (Pty) Ltd