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Sipho Maseko brings forward Telkom exit to 31 December

Admire Moyo
By Admire Moyo, ITWeb's news editor.
Johannesburg, 14 Dec 2021
Telkom group CEO Sipho Maseko.
Telkom group CEO Sipho Maseko.

Telkom group CEO Sipho Maseko will leave his role at the end of this year rather than on 30 June 2022, as the company had announced in August.

In a statement today, the telecommunications company told shareholders that Serame Taukobong will take over the role of group CEO with effect from 1 January 2022.

Telkom in August named Taukobong as group CEO designate to replace Maseko, who headed the JSE-listed telephony company for eight years.

Says Telkom in its statement: “The leadership transition plan is progressing effectively. As part of this plan, Sipho will step down from the Telkom board and those of subsidiaries and remain an employee of Telkom until 30 June 2022.”

The company says during this period, Maseko will be available to the new group CEO and the board in an advisory capacity.

“The board is confident of the stability of the group and would like to thank Sipho for his commitment to an orderly leadership transition.”

Maseko joined Telkom from Vodacom on 1 April 2013, at a time when the organisation faced severe challenges.

During his eight-year tenure, he turned the business around and evolved it from a traditional fixed business, to a portfolio comprising the mobile, IT, wholesale infrastructure business and the masts and tower portfolio.

Under his leadership, the group has had many strategic achievements in the execution of its broadband-led strategy, which are reflected in the group’s current healthy position, the company notes.

Telkom says during the period, the mobile company grew to become the third-largest mobile business in South Africa, with more than 15 million customers, generating R20 billion revenue.