Shares in Telkom advanced for a second straight day on Friday (14 November), following the appointment\u00a0of five independent non-executive directors to its board.<\/p>\n
In afternoon trade on the JSE on Friday, the telecoms firm gained 75 cents, or 4.66% to R16.85, having picked up 4% on Thursday\u00a0(13 November). Prior to the past few days, shares in Telkom had lost almost half its value on the local bourse in 2012.<\/p>\n
The appointment of\u00a0Susan Botha, Dr Clive Adrian Fynn, Khanyisile Kweyama, Fagmeedah Petersen and Louis Leon Von Zeuner ensures that Telkom now has\u00a0a board of 14 members, enabling the group to fill vacancies on board committees and to focus on the recruitment of a new group chief executive officer.<\/p>\n
Nombulelo (Pinky) Moholi<\/a>\u00a0announced her intention to step down as CEO in November, giving the board a six month notice period.<\/p>\n The new appointments come with noteworthy CVs, as\u00a0Botha was previously\u00a0executive director of MTN Group and Absa Bank, while\u00a0Dr Clive Adrian Fynn is a former\u00a0MD and chairman of Cisco Systems Capital (South Africa) and an executive director of Siemens Business Services.<\/p>\n Kweyama\u00a0is currently head of Anglo American Southern Africa and\u00a0VP of the Chamber of Mines, while\u00a0Von Zeuner sits on Absa’s board.<\/p>\n Analysts have expressed concern over Telkom’s problems at a boardroom level recently, questioning its relationship with government, a majority shareholder of the group.<\/p>\n Telkom appoints new board members<\/strong><\/a><\/p>\n Telkom will be hitched to an ox wagon: analyst<\/strong><\/a><\/p>\n Pule and Telkom board meet<\/strong><\/a><\/p>\n Telkom chair has instilled confidence: PIC<\/strong><\/a><\/p>\n Telkom to see massive strategy shift<\/strong><\/a><\/p>\nRelated articles<\/strong><\/h3>\n