South African telecommunications giant Telkom has announced that its CEO and executive director Sipho Maseko will step down on 30 June 2022.
The third largest mobile operator said the process to appoint a successor is well underway and a designated group CEO will be announced in the not too distant future.
Maseko joined Telkom on 1 April 2013 at a time when the organisation faced severe challenges. During his eight-year tenure, he turned the business around and evolved it from a traditional fixed business to a portfolio of businesses that comprises the mobile, IT, wholesale infrastructure business and the masts and tower portfolio.
Maseko on his reason to step down:
“I feel now is the right time for me to step aside and make way for a new leader who will take Telkom to even greater heights. I will stay on until June 2022 to ensure a smooth transition for my successor. I am most thankful to my colleagues across our country, for trusting me to lead Telkom, and for supporting me throughout this journey of transition.”
“Under his leadership, the group has had many remarkable strategic achievements in the execution of its broadband led strategy which are reflected in the group’s current healthy position. The mobile business grew to become the third-largest mobile business in South Africa with more than 15 million customers generating R20bn revenue,” Telkom said.
Maseko also expanded Telkom’s fibre footprint and the fixed customer base was migrated to new technologies – fibre and LTE. To date, the number of homes connected with fibre exceeds the number of homes connected with copper.