Telkom CEO re­signs

Finweek English Edition - - Main stories this week -

WHAT HAP­PENED TELKOM CEO Papi Molot­sane re­signed his CEO po­si­tion af­ter 18 months, drop­ping the bomb­shell at an emer­gency board meet­ing. Telkom has de­nied that Gov­ern­ment had any role in his de­par­ture. The for­mal rea­sons for Molot­sane’s de­par­ture will re­main con­fi­den­tial, as stip­u­lated in an agree­ment be­tween him and the board.

WHAT OTH­ERS SAID BUSI­NESS DAY said: “…re­plac­ing the CEO will not fix the fun­da­men­tal prob­lem that Telkom faces, which is that it still has the mind­set of a paras­tatal – and a mo­nop­oly to boot.” Money­web com­mented: “There’s been… ten­sion be­tween [Telkom] and Gov­ern­ment… Both Thabo Mbeki and Phumzile Mlambo-Ngcuka have pub­licly slated Telkom for con­tribut­ing to the high costs of telecom­mu­ni­ca­tions in SA.”

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