Johannesburg – Sipho Maseko will be stepping down as the Group Chief Executive Officer of Telkom, the company announced on Friday.
Maseko’s term as Group CEO will come to an end on 30 June 2022.
Telkom said that the process to appoint a successor is well underway and a designate Group Chief Executive Officer will be announced in the not too distant future.
Maseko would, for the remainder of his tenure, ensure the incoming Group Chief Executive Officer designate’s orderly transition into the role.
Maseko joined Telkom 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 of businesses which comprises the Mobile, IT, Wholesale infrastructure business and the Masts and Tower portfolio.
Maseko told Sunday World, “I feel now is the right time for me to step aside and make way for a new leader who will take Telkom to even greater heights. I will stay on until June 2022 to ensure a smooth transition for my successor. I am most thankful to my colleagues across our country, for trusting me to lead Telkom, and for supporting me throughout this journey of transition.”
“Under his leadership, the Group has had many remarkable strategic achievements in its execution of its broadband led strategy which are reflected in the Group’s current healthy position. The Mobile business grew to become the third-largest mobile business in South Africa with more than 15 million customers generating R20 billion revenue,” Telkom said in a statement on the JSE’s sens.
“Fibre footprint was expanded and the fixed customer base was migrated to new technologies (fibre and LTE). To date, the number of homes connected with fibre exceeds the number of homes connected with copper. The Group diversified the revenue pool acquiring an IT business and commercialised under-utilised infrastructure assets such as Masts and Towers and Data Centres,” Telkom further stated.
Telkom said: “The Board would like to thank Sipho for his exemplary leadership, his contribution to Telkom and its shareholders and looks forward to further value enhancement during his remaining term.”
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