Telkom investors will welcome news that there will be continuity on the group’s board. Chairman Lazarus Zim has been reappointed to the position and his term of office will now end on 31 August or at the group’s 2013 annual general meeting, whichever is the earlier date.
Zim was appointed to the position for a 12-month period in February of last year by then minister of communications Roy Padayachie. He replaced the controversial Jeff Molobela, who remains a director. Molobela helped lead a board process that resulted in the early departure of former Telkom CEO Reuben September after he was told his contract would not be renewed. September was eventually replaced by long-serving Telkom executive Nombulelo Moholi in the CEO role.
Zim, a former head of Anglo American in SA and founder of Afripalm Resources, has a strong business background and is close to President Jacob Zuma. He has variously served as the CEO of M-Net, CEO of MIH SA and MD of MTN International.
Because of his business background, his appointment was largely welcomed at the time despite some calling it a “political appointment”. — Craig Wilson, TechCentral
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