Minister of Communications Dina Pule says a new chief executive officer (CEO) of part state-owned South African operator Telkom will be announced in April, as the company’s share price continued to fall.
Current Telkom CEO Nombulelo Moholi announced her resignation in November and is set to leave her job next month, with no replacement yet named.
Meanwhile, company shares have steadily fallen on the Johannesburg Stock Exchange (JSE), declining 0.82 per cent to ZAR14.58 (US$1.60) today. Shares have fallen nearly 44 per cent in the last year and nearly 14 per cent in 2013 alone.
Pule told Talk Radio 702’s John Robbie: “I’ve just spoken to the chairperson of Telkom yesterday (13 March). I hope by probably the beginning or at the end of April we will have a CEO there.”
HumanIPO reported earlier this week Telkom was to offer its employees voluntary severance packages as it looks to cut costs, warning further retrenchments may be necessary if not enough take up the offer.
Employees are to be offered the opportunity to take voluntary severance (VSP) and early retirement (VERP) packages in a window period between 15 March and 31 August.
“The move is aimed at allowing Telkom to achieve its business objectives, secure its sustainability and commercial viability by rebalancing its workforce in line with its strategic imperatives,” the company said.
The company did appoint a new group company secretary last week, with Xoliswa Makasi replacing Andisa Ditle, who had been acting in the position since November last year.
