Telkom board chairman Sello Moloko has resigned, and the telephony group is now scouting for a suitable replacement.
In a surprise announcement today, Telkom informed shareholders of Moloko’s departure, saying he will step down as an independent non-executive director and chairperson of the board due to workload reasons.
Moloko is the current non-executive chairman of Absa Group and also leads the Thesele Group board. The experienced businessman previously served as non-executive chairman of Sibanye-Stillwater and Alexander Forbes.
“The date of Mr Moloko’s departure will be no later than 31 March 2023, to ensure an effective transition. Once the board has agreed the date of Mr Moloko’s resignation, a further announcement will be published,” Telkom informed shareholders.
“The board and management are grateful to Mr Moloko for his valuable contribution and leadership, particularly during the challenging economic times imposed by the COVID-19 pandemic.”
Moloko was appointed as an independent non-executive director of the Telkom board on 20 March 2018 and became chairperson of the board in June 2019.
On the board, he served as a member of the remuneration committee and chairperson of the nominations committee.
Telkom reassured investors that despite Moloko’s resignation, the board committees will remain duly constituted.
The telephony group has, in recent months, been bolstering its board with new directors from diverse sectors.
The most recent appointment was that of finance heavyweight Naidene Ford-Hoon (Fok) as independent non-executive director, effective this month.
Ford-Hoon’s appointment followed that of former MTN SA and Altron CEO Mteto Nyati, Brian Kennedy, Prudence Lebina and Ipeleng Selele.
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