Ms Nombulelo Moholi today announced her intention to step down as Telkom Chief Executive Officer,even before her contract at the group expires.
Moholi gave the group a six month notice as required by law.
According to Reuters, Ms. Nombulelo T. Moholi was appointed as Group Chief Executive Officer, Executive Director of Telkom SA Ltd in April 2011, after being Managing Director of the Telkom SA business unit since 1 May 2009. She joined the firm in 1994 as General Manager of Payphones then promoted to Group Executive of Regulatory Affairs in October 2005 and Managing Executive of International and Special Markets in 1999.
Moholi’s move comes just days after Ms Neo Phakama Dongwana, then director quit on November 2.
The firm which was in the process of filling several board vacancies will therefore embark on finding a replacement Chief Executive Officer whose departure the firm says has no negative impact on it.
In a statement the firm said,” The Company would like to emphasise that Ms Moholi’s intended departure does not impact on its operational capabilities, and on its ability to provide customers with the best possible service.”
Bloomberg reports that Telkom SA has been trying to raise funds and had asked its largest shareholder, the government to let it sale part of the company to help it enter into broadband and mobile markets, but the government which sees the firm as a strategic asset stopped a 20 percent stake sale to South Korea’s KT Corp. (030200).