Telkom needs to find a “worthy successor” to chief executive Nombulelo “Pinky” Moholi, trade union Solidarity said on Monday (5 November 2012).<\/p>\n
“Moholi is one of several Telkom CEOs who have resigned over the past year and her resignation will contribute to further instability in the company,” spokesman Marius Croucamp said in a statement.<\/p>\n
He said the company had been plagued by problems, such as a R449 million Competition Tribunal fine for “bullying” potential competitors, a failed bid by Korea Telecoms to buy a 20 percent stake in the parastatal, and weak financial prospects.<\/p>\n
“Solidarity is concerned about who will take over the reins from Moholi, as her successor will have to re-establish stability in the company.”<\/p>\n
The parastatal announced Moholi’s resignation on Monday.<\/p>\n
“Moholi has notified the company of her intention to step down before the end of her contract period,” it said in a statement.<\/p>\n
“She has given the board the requisite six months’ notice in this regard.”<\/p>\n
The company’s board director Neo Phakama Dongwana also resigned.<\/p>\n
Once the “current vacancies” on the board were filled, it would start looking for a new chief executive.<\/p>\n
Website BDlive reported that at Telkom’s annual general meeting (AGM) in October, Communications Minister Dina Pule managed to vote off four board members.<\/p>\n
The AGM was last chaired by Lazarus Zim after he announced his resignation as Telkom chairman in September.<\/p>\n
Moholi previously rejected speculation that she intended resigning after Zim left.<\/p>\n
Moholi was appointed chief executive in April last year, after acting head Jeffrey Hedberg decided earlier in 2011 not to renew his contract.<\/p>\n
She became the first black woman to head up a Johannesburg Stock Exchange listed telecommunications company in South Africa. She was previously Telkom’s chief sales and marketing officer from 2002 to 2005, before moving on to Nedbank for three years.<\/p>\n
In 2009 she returned to Telkom as a managing director.<\/p>\n
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