Public Investment Corporation (PIC) CEO and empowerment activist Brian Molefe has joined Telkom's board.
The PIC is Telkom's "Class B" shareholder with a 15.3% shareholding in the company. Molefe will replace Tshepo Mahloele as the PIC's representative on the fixed-line telco player's board.
Molefe is best remembered for the role he took in forcing Sasol and Barloworld to fast-track transformation. As a result of these actions, Barloworld appointed its first black chief executive, Isaac Shongwe; and Sasol appointed Imogen Mkhize - its first black female board member - as non-executive director.
However, Molefe is giving the market no insight as to his satisfaction with Telkom and its management.
In a formal statement Molefe said: "I welcome the appointment to the Telkom board. I will be there to look after the interests of the PIC shareholders. I am looking forward to having a healthy relationship with Telkom's board."
A source close to the organisation believes Molefe is unlikely to "cause trouble" in his new role.
"At the moment, Molefe appears to be quite satisfied with Telkom. He is just there to represent PIC interests," he says.
Related stories:
Telkom profits under pressure
ICT industry for sale
Telkom-Telcordia hearings imminent
Telcos deny power problems
Skills demand exceeds supply
Oger, MTN duel for Telkom
MS snaps up Telkom exec
Letlape quits Telkom
Share