Wednesday, November 23, 2022

Sello Moloko resigns as Telkom chairman

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Telkom’s chairman, Sello Moloko, has resigned and can depart the board of the partially state-owned telecommunications operator by no later than 31 March 2023.

The corporate cited Moloko’s heavy workload for his choice to step down.

His exit comes after a report earlier on Wednesday stated Moloko had been urged by the Reserve Financial institution’s Prudential Authority to step all the way down to focus his consideration on Absa.

Enterprise Day, citing sources with data of the matter, stated Moloko (paywall), who took the reins on Absa’s board in April from Wendy Lucas-Bull, stated Telkom board had thought-about appointing Mteto Nyati as chair. Nyati, a former CEO of Altron and MTN South Africa, not too long ago acquired a 40% stake in enterprise know-how consultancy BSG.

Moloko was appointed as Telkom board chair in 2019. He joined the board of Telkom in 2018 as an impartial non-executive director.

“The board has commenced the method to determine an appropriate substitute [to Moloko],” Telkom stated on Wednesday.  – © 2022 NewsCentral Media

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