Telkom now has sufficient directors on its board to elect a new chairman. This follows the appointment of Jabulane Mabuza and Kholeka Mzondeki as directors of the telecommunications operator.
Telkom’s board was thrown into crisis three weeks ago when government voted at the company’s annual general meeting against the election or reelection of four of the group’s nonexecutive directors, including Sibusiso Luthuli, who would have taken up the chairmanship role following the departure of Lazarus Zim.
The company now has eight board directors. According to Telkom’s memorandum of incorporation, the board is now sufficiently constituted to elect a new chairman.
“We welcome the appointment of our new board members and believe that their depth of knowledge, skill and experience will be of great value to Telkom,” says CEO Nombulelo Moholi in a statement.
The first of the new directors, Mabuza, serves as deputy chairman of Tsogo Sun Holdings. The second, Mzondeki, is a director on the boards of Reunert, Sentula Mining and Bauba Platinum.
Mzondeki has been appointed as a member of Telkom’s audit committee. — (c) 2012 NewsCentral Media