Shareholders are advised that the Telkom Board of Directors has appointed telecommunications executive Mr Sipho Maseko as Group Chief Executive Officer and executive director with effect from 1 April 2013. Mr Maseko holds a BA LLB from the University of Natal. He has previously served as the Managing Director of Vodacom South Africa (Pty) Limited. His tenure with Vodacom included fulfilling the position of Chief Operating Officer of the Vodacom Group Limited.
Telkom also announced that it is appointing Dr Brian Armstrong as Group Chief Operating Officer. These appointments enable the departure of the incumbent Group Chief Executive Officer, Nombulelo Moholi, at the end of March 2013.
"The appointment of a seasoned executive with telecommunications experience is another building block in Telkom's turnaround process", said Jabu Mabuza, the Telkom chairman. "The objective of Telkom's turnaround is to deliver 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 Mabuza said that the Board followed a thorough governance process in making these appointments.
"We instructed the executive search consultants to cast a wide net, so that we could choose from the best candidates. 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." said Mr Mabuza.
Mr Mabuza also said that part of the appointment process included consultation with key stakeholders about the Board's decision. He wished outgoing GCEO Nombulelo Moholi well and thanked her for her contribution to the group.
28 March 2013
Sponsor to Telkom:
Standard Bank of South Africa Limited