Telkom needs ‘worthy successor’ to create stability

2012-11-05 10:54

Telkom needs to find a “worthy successor” to chief executive Nombulelo “Pinky” Moholi, trade union Solidarity has said.

“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,” spokesperson Marius Croucamp said in a statement today.

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% stake in the parastatal, and weak financial prospects.

“Solidarity is concerned about who will take over the reins from Moholi, as her successor will have to re-establish stability in the company.”

Meanwhile, the Democratic Alliance (DA) has said Telkom should be fully privatised to prevent the parastatal from being plunged into a crisis.

“Should government persist in its naive and dangerous management of Telkom we may well soon see the company come cap-in-hand to Parliament asking for a financial lifeline,” DA MP Marian Shinn said in a statement.

“Government has a dismal record in managing state-owned companies and Telkom must not be allowed to become another state-controlled failure.”

The parastatal announced Moholi’s resignation today.

“Moholi has notified the company of her intention to step down before the end of her contract period,” it said in a statement.

“She has given the board the requisite six months’ notice in this regard.”

The company’s board director Neo Phakama Dongwana also resigned.

Once the “current vacancies” on the board were filled, it would start looking for a new chief executive.

Website BDlive reported that at Telkom’s annual general meeting (AGM) in October, Communications Minister Dina Pule managed to vote off four board members.

The AGM was last chaired by Lazarus Zim after he announced his resignation as Telkom chairman in September.


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