Telkom loses Chief Financial Officer, Tsholofelo Molefe, to rival MTN

Telkom has appointed Tsholofelo Molefe as Group CFO. (Photo: File, Gallo Images)
Telkom has appointed Tsholofelo Molefe as Group CFO. (Photo: File, Gallo Images)

Telkom Chief Financial Officer (CFO), Tsholofelo Molefe, resigned from the group after two years and is set to join rival mobile operator MTN.

Telkom announced Molefe's resignation on Friday with immediate effect after she joined the group in 2016 as deputy CFO before eventually being appointed to the main seat two years later. The telecommunications provider recently unveiled a 'mixed bag' of financial results a month ago as revenue was down 0.4% for the six months ended 30 September, despite a surge in data revenue during the coronavirus lockdown.  

In a surprise move, rival operator, MTN, put out a statement later on that day that she would be joining recently appointed CEO, Ralph Mupita's team as CFO. Mupita took over as CEO of the mobile operator in September this year after the departure of Rob Shuter.

MTN said Molefe would take up her new role "as soon as practically possible next year but no later than 1 October 2021." Her appointment comes after the mobile operator completed a comprehensive group strategy review that involved a raft of new appointments.

For Telkom, the group said Openserve CFO Dirk Reyneke will take over as acting group CFO effective December 7. Reyneke is a former CFO of Telkom Mobile and Gyro, Telkom’s property and towers business. He also led the integration process of BCX and Telkom Enterprise. 

The group said it will appoint a permanent CFO at the end of a comprehensive process.


We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
15.07
(-0.20)
ZAR/GBP
20.71
(-0.22)
ZAR/EUR
18.32
(-0.15)
ZAR/AUD
11.66
(-0.08)
ZAR/JPY
0.15
(-0.15)
Gold
1851.62
(+0.05)
Silver
25.42
(+0.07)
Platinum
1092.50
(-0.23)
Brent Crude
55.81
(-0.07)
Palladium
2303.00
(+0.17)
All Share
63759.73
(-0.26)
Top 40
58565.18
(-0.26)
Financial 15
11785.40
(+0.39)
Industrial 25
86834.77
(-0.08)
Resource 10
61445.34
(-0.76)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 748 votes
No, I did not.
52% - 1867 votes
My landlord refused
28% - 996 votes
Vote