Fixed-line operator Telkom has confirmed that Nombulelo 'Pinky' Moholi will take over from Jeffrey Hedberg as CEO from next month.
The news follows recent media speculation that Moholi would be appointed to the top position after Hedberg decided earlier this year not to renew his contract as acting CEO when it runs out at the end of this month.
“In appointing the chief executive officer, the board followed a rigorous evaluation process, including international benchmarking and consultation with the Department of Communications,” says the announcement.
Consultations with the department were a requirement specified in Telkom's articles of associations before the department's golden share rights expired earlier this month.
Analysts this week said government, trade unions and the market would welcome Moholi's appointment as she is technically competent, respected by the market, and would be the first black woman to lead the company.
However, analysts warned she will have a large task ahead of her, as Telkom must focus on strategic growth areas to offset dwindling revenue from landlines, entrench its mobile arm, 8ta, and sort out its African operations.
Experienced
Moholi has 23 years' experience in the ICT sector, and spent 15 of those years in executive management, says Telkom. The company made the announcement to shareholders this morning just after the market opened.
Telkom's incoming CEO has an electrical engineering degree from the University of Cape Town, and has also completed executive management programmes at Stanford and Harvard universities. She has served as a non-executive director on a number of private and publicly listed companies.
Moholi joined Telkom in 1994 after being employed as an engineer at GEC and Siemens. Moholi spent 11 years at Telkom SA, and was promoted to several senior positions, including group executive of regulatory affairs, managing executive of its international and wholesale business, and chief sales and marketing officer.
Moholi left Telkom in 2005 to join Nedbank, where she was the chief strategy and corporate affairs officer, and a member of the bank's executive committee. She rejoined Telkom in May 2009 as MD of its South African unit.
Telkom's board has asked Hedberg to remain with the company in an advisory capacity until it releases its annual results in June.
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