As shares in Telkom continued to plummet to new lows, communications minister Dina Pule says that the group aims to announce a new CEO in April.<\/p>\n
In lunchtime trade on the JSE on Friday (15 March), shares in Telkom declined 0.82% to R14.58, giving the group a market cap of R7.60 billion.<\/p>\n
Telkom reached an intraday worst level of R14.56, testing an all-time low of R14.50 reached on Thursday, as investors continue to be spooked by the level of uncertainty surrounding the group.<\/p>\n
Shares in Telkom have dropped nearly 44% in the last year, and nearly 14% since the start of 2013.<\/p>\n
In an interview with John Robbie on Talk Radio 702, Pule said: \u201cIve just spoken to the chairperson of Telkom yesterday (13 March). I hope by probably the beginning, or at the end of April we will have a CEO there.\u201d<\/p>\n
Current CEO,\u00a0Nombulelo Moholi<\/a>\u00a0announced her resignation in November 2012 and will leave the company in April 2013.<\/p>\n It was\u00a0rumoured\u00a0that former\u00a0Vodacom<\/a>\u00a0COO,\u00a0Sipho Maseko<\/a>, might take the lead role at Telkom, however,\u00a0\u00a0he dismissed the rumours as\u00a0false.<\/p>\n The Department of Communications recently announced that, together with the Telkom Board, it is still finalizing options that are to be proposed to cabinet for consideration on a strategic direction for the firm.<\/p>\n Government holds the majority shares in Telkom through its own 39.8% stake in the company and the 10.5% held by the\u00a0Public Investment Corporation<\/a>.<\/p>\n Maseko dismisses Telkom CEO rumours<\/strong><\/a><\/p>\n Telkom consolidates below R15<\/strong><\/a><\/p>\nMore new on Telkom<\/h3>\n