Sipho Maseko will step down as CEO of Telkom in June next year.
Previously Vodacom's managing director, Maseko was appointed as CEO in 2013.
“During his eight-year tenure, he turned the business around and 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 in a statement. Telkom’s mobile business is now the third largest mobile business in South Africa with more than 15 million customers, generating R20 billion revenue.
In addition, he oversaw Telkom’s fibre expansion. “To date, the number of homes connected with fibre exceeds the number of homes connected with copper,” Telkom added.
The company says a new CEO will be announced “in the not too distant future”.
Maseko, who is in his early fifties, will remain in his position to ensure an orderly transition.
He was previously CEO of BP Southern Africa, and has a BA and LLB degrees from the University of Witwatersrand.