Telkom needs 'worthy successor' - TechCentral

Telkom needs ‘worthy successor’

Telkom needs to find a “worthy successor” to CEO Nombulelo Moholi, trade union Solidarity said on Monday.

“Moholi is one of several Telkom CEOs who have resigned over the past year and her resignation will contribute to further instability in the company,” spokesman Marius Croucamp said in a statement.

He said the company had been plagued by problems, such as a R449m Competition Tribunal fine for “bullying” potential competitors, a failed bid by Korea’s KT Corp to buy a 20% stake in the company, and weak financial prospects.

“Solidarity is concerned about who will take over the reins from Moholi, as her successor will have to re-establish stability in the company.”

The company announced Moholi’s resignation on Monday.

“Moholi has notified the company of her intention to step down before the end of her contract period,” it said in a statement. “She has given the board the requisite six months’ notice in this regard.”

The company’s board director Neo Phakama Dongwana also resigned. Once the “current vacancies” on the board were filled, it would start looking for a new CEO.  — Sapa

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