Telkom CEO Sipho Maseko laid out the key focus points the company would be prioritising in order to turn the struggling telco around in an email sent on Thursday (31 October).
The overall goal, Maseko said, is to transform Telkom into an organisation “that can generate attractive returns for our shareholders while supporting South Africa’s economic and social development”.
“There is common understanding that the journey awaiting us will be far from easy, and will require sacrifices and tough decisions. Leadership is not fazed by this, and is determined to get things done,” the CEO said.
In the email, Maseko highlighted six focus points in the company’s shift in strategy:
- Customer service: “No matter what you do, you have a customer to serve – be it an external or internal customer. The drive to provide the best possible service must dominate your thoughts and actions.”
- Transforming South Africa: “Telkom is at the heart of South Africa’s societal and economic transformation. We have a decisive role to play, and we must step up to meet this challenge.”
- Owning the home: “The communications devices in residential homes must be ours.”
- Investing in the right technology: “Instead of the shotgun approach we need to focus on a few things and go all-out to make these work.”
- Build an “invincible” network: “Our network is at the heart of what we do and we must have an unparalleled fixed and mobile network.”
- Business Alignment: “Alignment speaks to our organisational structure, but also to having the right person in the right place doing the right thing…[also] the way we interact with each other and pursue similar objectives.”
Maseko committed on behalf of himself, the Telkom board and management to execute the turnaround, saying that “it will go down in history as the greatest turnaround ever achieved in corporate South Africa”.
“Telkom’s turnaround is real. There is no turning back. Join your leaders, get on board and help secure our and your future,” the CEO said.
Telkom’s share price has climbed 54% since January, adding R9.21 to R26.14, although investors recently reacted negatively to news that the group has suspended its chief financial officer, Jacques Schindehütte.
“The suspension relates to allegations of personal misconduct levelled against Mr Schindehütte and which came to the Board’s attention through a whistleblower,” Telkom said in a statement last week.