{"id":22176,"date":"2012-09-14T16:35:38","date_gmt":"2012-09-14T14:35:38","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=22176"},"modified":"2012-09-14T17:06:24","modified_gmt":"2012-09-14T15:06:24","slug":"telkoms-zim-departure-first-of-many-da","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/22176\/telkoms-zim-departure-first-of-many-da\/","title":{"rendered":"Telkom\u2019s Zim departure first of many: DA"},"content":{"rendered":"

The\u00a0Democratic\u00a0Alliance (DA<\/a>) believes that the departure of Lazarus Zim<\/a> as Telkom’s chair is the first of many within the group.<\/p>\n

Zim will step down as chairman and director of\u00a0Telkom<\/a>\u00a0at the end of the company\u2019s annual general meeting in October 2012.<\/p>\n

Lazarus Zim was appointed as a non-executive director for a three year period and as chairman for a one year period on 16 February 2011. He\u00a0was re-appointed as the chairman of the Telkom board of directors in February 2012.<\/p>\n

Marian Shinn<\/a>, shadow minister of communications said: “His departure is likely to be the first of many of those in Telkom who invested extensive energy and time into developing a strategic turnaround and expansion deal with South Korea\u2019s KT Corp<\/a> that Cabinet rejected as soon as it was tabled on May 30.”<\/p>\n

Shares in Telkom rallied in afternoon trade\u00a0on the JSE<\/a> on Friday, up 4.48% to\u00a0R19.34, ahead of a cabinet meeting scheduled next week to discuss a future\u00a0strategy\u00a0for the group.<\/p>\n

“It must have been untenable for him \u2013 and many of his team \u2013 to have been so brutally betrayed by the major shareholder which instigated the negotiations with KT Corp. Despite monthly meetings with Communications Minister Dina Pule, he was given no hint of the fact that Telkom was negotiating on behalf of an unwilling seller,”\u00a0Shinn said.<\/p>\n

“Mr Zim obviously has insight into cabinet\u2019s intentions for Telkom and wants to play no part in these. It is a sad day indeed when government ineptitude chases away talented and dedicated business people who want to play a constructive role in making South Africa work,” the shadow minister said.<\/p>\n

Related article<\/strong><\/p>\n

Telkom chairman steps down<\/strong><\/a><\/p>\n

Telkom SA re-appoints Lazarus Zim as chairman<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Democratic Alliance (DA) says that the departure of Lazarus Zim as Telkom’s chair is the first of many in the group.<\/p>\n","protected":false},"author":9,"featured_media":5715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1900,1329,1083,26,1781,4087,2093,65],"class_list":["post-22176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-cabinet","tag-da","tag-dina-pule","tag-headline","tag-kt-corp","tag-lazarus-zim","tag-marian-shinn","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=22176"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22176\/revisions"}],"predecessor-version":[{"id":22209,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22176\/revisions\/22209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5715"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=22176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=22176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=22176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}