Telkom group chief executive officer Sipho Maseko will step down on 30 June 2022.
In a shareholder statement on Friday morning (23 July), the telecommunications group said that the process to appoint a successor is well underway and a designated group chief executive officer will be announced in the ‘not too distant future’.
Maseko will help ensure the orderly transition into the role during the remainder of his tenure, Telkom said.
“Sipho joined Telkom on 1 April 2013 at a time when the organisation faced severe challenges.
“During his eight-year tenure, he turned the business around and evolved it from a traditional fixed business to a portfolio of businesses which comprises the mobile, IT, wholesale infrastructure business and the masts and tower portfolio.
“Under his leadership, the group has had many remarkable strategic achievements in the execution of its broadband led strategy which are reflected in the group’s current healthy position.”
Telkom’s mobile business grew to become the third-largest in South Africa during Maseko’s tenure, with more than 15 million customers generating R20 billion revenue.
He also helped oversee Telkom’s migration from ADSL to fibre, and the number of homes connected with fibre now exceeds the number of homes connected with copper, Telkom said.