Telkom accepts Molefe again

By Staff Writer for Telkom

Johannesburg, 25 Apr 2008

For the second time this year, Brian Molefe will serve on Telkom's board of directors; however, this time he will act as an alternative director to Athol Rhoda.

Molefe's responsibilities on behalf of Rhoda are as yet unclear, because Telkom could not be reached for comment on the movements in the directorship.

However, alternative directors are generally accepted to have the same powers to attend, speak and vote at meetings as the principal director would have.

The Public Investment Corporation (PIC) CEO and empowerment activist joined Telkom's board in January. The PIC is Telkom's "Class B" shareholder, with a 15.3% shareholding. At the time, Molefe replaced Tshepo Mahloele as the PIC's representative on the fixed-line telco's board.

However, in March, Molefe was removed from the company's board to be replaced by Rhoda, who also serves on the PIC board. According to Telkom, the removal of Molefe was initiated by the PIC.

Molefe's position as alternative director at Telkom took effect on Monday and according to a Sens announcement, was again advised by the "Class B" shareholder.

Chief strategy appointment

Telkom CEO Reuben September has appointed new chief of strategy Naas Fourie.

He has been acting in the position since November last year after the fixed-line giant experienced an executive mass exodus.

Before that, Fourie held the position of managing executive of commercial services at Telkom. He has also been appointed to the executive committee.