Long-serving Telkom chairman Jabu Mabuza is stepping down from the JSE-listed telecommunications board at the end of May, more than seven years after he assumed the role.
Telkom said in a statement to shareholders on Thursday that Mabuza will also step down as an independent nonexecutive director.
Sello Moloko, currently an independent nonexecutive director, will be elected as the new chairman with effect from 1 June.
Telkom said Moloko has a “wealth of business experience gained over more than 25 years, with an established career in financial services”. He holds positions as independent nonexecutive chairman of Sibanye-Stillwater and is the former nonexecutive chairman of Alexander Forbes.
He also serves on the boards of Prudential Investment Managers, DG Capital and Stor-Age REIT.
Moloko is executive chairman and co-founder of Thesele Group, a black-owned diversified investment holding company.
Mabuza has served as Telkom chairman since November 2012. He also serves as the chairman of troubled state-owned power utility Eskom.
At the same time, Telkom announced the appointment to the board of Sibusiso Sibisi with effect from on 1 April. “His appointment brings extensive expertise in ICT, start-up ventures and business-to-business intelligence skills,” the company said. — © 2019 NewsCentral Media
