Mabuza announces Telkom exit ahead of Zondo appearance

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Telkom chairperson Jabu Mabuza is stepping down in May.
Telkom chairperson Jabu Mabuza is stepping down in May.

Jabu Mabuza announced he is stepping down as Telkom chairman on the eve of his appearance at the Zondo commission of inquiry into state capture, where he testifies in his other role as Eskom board chairperson.

Telkom said yesterday that Mabuza's resignation from the role he has held since November 2012 will be effective as of 31 May.

"Jabu Mabuza has chaired the Telkom board through some rough times since he joined the board in 2012," said Sipho Maseko, group CEO of Telkom. "On departure, he will leave a strong and stable organisation."

Maseko expressed the board's gratitude to Mabuza for his leadership over the past six years, saying his skills and experience have been extremely valuable to Telkom.

Mabuza is reportedly scheduled to be the first witness at the state capture inquiry today. The commission has set down the next three weeks to focus on the state-owned power utility.

Mabuza took over as Eskom chairperson in January 2018, along with a number of new board members, "as an immediate measure to strengthen governance and management at the parastatal", the Presidency said at the time.

When he was appointed, the Presidency directed the new board to "immediately remove all Eskom executives who are facing allegations of serious corruption and other acts of impropriety".

His testimony is expected to shine light on the state of the parastatal when the new board took over and the clean-up effort at the power utility ever since.

New Telkom chairperson Sello Moloko.
New Telkom chairperson Sello Moloko.

New blood

Mabuza will be replaced at Telkom by Sello Moloko, an independent non-executive director already on the Telkom board and "a seasoned director".

Moloko is also the non-executive chairman of Sibanye-Stillwater and previously chaired the board of Alexander Forbes. He also serves on the boards of Prudential Investment Managers, DG Capital and Stor-Age REIT.

He will take over the leadership of the Telkom board on 1 June.

Moloko is executive chairman and co-founder of Thesele Group, a wholly black-owned diversified investment holding company. He holds a BSc Honours degree, and a postgraduate certificate in education from the University of Leicester and the AMP from the Wharton School.

Dr Sibusiso Sibisi has also been appointed to the Telkom board effective on 1 April. Sibisi has a BSc (Physics) from Imperial College of Science and Technology and a PhD from Cambridge University. His appointment brings extensive expertise in ICT, start-up ventures, and business-to-business intelligence skills, Telkom says.

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