Sipho Maseko is Telkom’s new group CEO and will take over from outgoing CEO Nombulelo Moholi next week, TechCentral has been told by three separate sources with ties to the telecommunications operator.
An announcement about his appointment may be made as soon as this afternoon. TechCentral understands that Telkom may announce the appointment of a chief operating officer, a new position, at the same time.
Sources say there was a tight race between two candidates for the top job, which is seen as one of the most challenging in corporate South Africa.
Maseko, who could not be reached on his mobile phone on Thursday for comment, is a former MD at Vodacom South Africa. He took on that role in 2011 but left soon after. He told TechCentral last month that he had had no “formal conversations yet” with Telkom.
Before his short stint at Vodacom, Maseko had no background in telecoms. He was previously a chief operating officer and deputy CEO at BP Southern Africa. Before BP, he worked at Werksmans Attorneys and the Financial Services Board. He has a bachelor of arts and a bachelor of laws (LLB) from Wits University.
Maseko will have his work cut out for him at Telkom, which has suffered huge management instability in recent years – he is the sixth CEO to take the reins in eight years after Sizwe Nxasana, Papi Molotsane, Reuben September, Jeffrey Hedberg (acting) and Moholi.
The operator’s share price has plummeted in recent years. In the past 12 months alone, it has tanked by 42%. — (c) 2013 NewsCentral Media