Mabuza was previously an MD of Southern Sun Gaming, GCEO of Tsogo Sun and chairman of the Board of South African Tourism.
The appointment follows that of several new non-executive directors to the struggling company’s board this week.
Earlier today (16 November 2012), Telkom appointed investment banker Leslie Maasdorp, to its board as a non-executive director. Maasdorp is currently president for Southern Africa at Bank of America Merrill Lynch, with previous board experience as a non-executive director of Absa Group and Johnnic.
On Monday (12 November 2012) Telkom announced the appointment of several other non-executive directors including Mabuza and Kholeka Mzondeki.
Mzondeki was also appointed as a member of the Telkom Audit Committee.
Telkom has had a difficult 2012, having seen its share price plummet almost 50% this year, from a high of R29.75 in early February, to a close of R15.80 on the JSE on Thursday (15 November).
This follows on a string of events which have had a negative impact on the company – such as a blocked deal between Telkom and Korean telecoms company KT Corp earlier in the year; the department of communication’s uncertain direction for the company; a mass executive exodus after a turbulent AGM; and the announcement that CEO, Nombulelo Moholi, would be stepping down.
In afternoon trade on the JSE, by 14h50 Telkom made a slight gain of 0.38%, or 6c, to R15.86.