Telkom South Africa has informed shareholders that Sipho Maseko will step down as group CEO and executive director of Telkom and its subsidiaries on 30 June 2022. The process to appoint a successor is well under way and a designate Group Chief Executive Officer (GCEO) will be announced in the not-too-distant future. For the remainder of his tenure, Maseko will ensure the incoming GCEO's orderly transition into the role.
Maseko joined Telkom on 01 April 2013 at a time when the organisation faced severe challenges. During his eight-year tenure, he has turned the business around and evolved it from a traditional fixed business to a portfolio of businesses which comprises the mobile, IT, wholesale infrastructure business and the masts and tower portfolio. Under his leadership, the group has had strategic achievements in its execution of its broadband-led strategy, which are reflected in its current healthy position, Telkom said.
The mobile business has grown to become the third largest mobile business in South Africa with more than 15 million customers generating ZAR 20 billion revenue. The fibre footprint has been expanded and the fixed customer base migrated to fibre and LTE. The number of homes connected with fibre now exceeds the number of homes connected by copper. The group has diversified the revenue pool, acquiring an IT business and commercialising under-utilised infrastructure assets such as masts, towers and data centres.
