Telkom CEO Nombulelo Moholi has resigned, becoming the latest in a long string of leaders of the telecommunications group to step down in recent years. She’d been in the role for little more than 18 months.
Moholi, who is credited with building a strong management team around her and leading a project to upgrade Telkom’s broadband infrastructure, served notice to the board on Friday, TechCentral has established. She replaced former acting CEO, American national Jeffrey Hedberg, in March 2011.
Her decision, which comes little more than a week after Telkom’s dramatic annual general meeting at which communications minister Dina Pule sparked a board crisis by voting against the election or reelection of four nonexecutive directors, is likely to reignite criticism of government’s role in the company as a direct 39,8% shareholder.
Moholi notified Telkom of her intention to step down before the end of her contract period, Telkom says in a statement to shareholders. She has given the board the required six-month notice in this regard, it adds.
“The board will embark on a process of finding a replacement CEO once it has filled the current vacancies and there are at least eight directors as required by the memorandum of incorporation. The process of filling the vacancies on the board has commenced and announcements will be made in due course.” — (c) 2012 NewsCentral Media
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