JOHANNESBURG, Aug 4 (Reuters) - South Africa's third-biggest
telecom company Telkom said on Wednesday it has
appointed the head of its consumer business, Serame Taukobong to
be group Chief Executive Officer designate with effect from Oct.
Taukobong, who is also a group Executive Committee Member,
replaces Sipho Maseko who will step down at the end of June next
Taukobong joined Telkom in June 2018 and has extensive
experience in telecommunications having spent about 10 years at
rival MTN Group, where he held several senior roles
which included Chief Operating Officer and later CEO of MTN
Ghana, Telkom said.
As CEO of the Telkom Consumer Business, the mobile business
customer base grew three-folds to 15 million and its revenue
almost doubled to 20 billion rand ($1.40 billion) within a three
year period, Telkom said.
Under his leadership, the mobile arm has become the third
largest mobile business in South Africa, it said.
"The Board, Group CEO and the Group CEO Designate remain
committed to structurally separate Telkom and unlock value for
shareholders," the partly state-owned operator added.
Among the value unlock exercises, Telkom is looking for
investors for its mast and tower business, which it reckons is
undervalued since it is trapped in the group structure.
The exercise was started by Maseko who has been credited for
successfully turning the operator around from a business facing
declining fixed-line voice revenue, to a digitally-led one fit
to compete with the top two players MTN and Vodacom Group
During this transition period, Taukobong will continue to
have oversight of the Telkom Consumer Business, while a
recruitment process for his successor starts immediately, Telkom
($1 = 14.2625 rand)
(Reporting by Nqobile Dludla, Editing by Louise Heavens)