In a statement, Maseko said it was the right time for him to leave. Picture: Simphiwe Mbokazi.
In a statement, Maseko said it was the right time for him to leave. Picture: Simphiwe Mbokazi.

Telkom Group CEO Sipho Maseko set to step down next year after 8 years

By BR Reporter Time of article published Jul 23, 2021

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SIPHO Maseko, the Telkom Group chief executive, has announced that he will be stepping down in March 2022.

He said he had informed the board, and his final day of service will be on June 30, 2022.

“In other words, after the annual results and on completion of my notice period.”

Maseko was appointed as CEO in 2013. He was previously the managing director at Vodacom.

Maseko said it was the right time for him to leave.

“Eight years ago, the mission was very clear: we must save the company, get it to be sustainable and able to hold its own in the future relative to its peers. I’m broadly satisfied that this mandate has been fulfilled.

“Today, Telkom is a stable company. We have de-risked our business, we have a very clear strategy for each of the business units. We are on a clear and definite path to unlock value for our shareholders, indeed all our stakeholders.

“It wasn’t an easy ride, but our perseverance has paid off. I remain very optimistic and confident about our strategy and the future of the company.”

He said it was time for another leader to take Telkom to new heights.

Telkom said that during Maseko’s eight-year tenure, he turned the business around.

“He evolved it from a traditional fixed business to a portfolio of businesses which comprises the Mobile, IT, Wholesale infrastructure business and the Masts and Tower portfolio,” Telkom said.

Maseko added: “I am most thankful to you, my colleagues across our country, for trusting me to lead Telkom, and for supporting me throughout this journey; a journey that often took us to unexplored places.”

Maseko said the board would announce the new chief executive at a later stage.

BUSINESS REPORT ONLINE

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