Sipho Maseko is stepping down as CEO of Telkom after nine years in the job. The company informed investors on Friday that Maseko will depart on 30 June 2022.
“The process to appoint a successor is well underway and a designate Group Chief Executive Officer (GCEO) will be announced in the not too distant future. Sipho would, for the remainder of his tenure, ensure the incoming Group Chief Executive Officer designate’s orderly transition into the role,” Telkom said in a statement.
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.
Under his leadership, Telkom has had many remarkable strategic achievements in the execution of its broadband led strategy which are reflected in its current healthy position.
“The Mobile business grew to become the third-largest mobile business in South Africa with more than 15 million customers generating R20 billion revenue,” Telkom said.
“Fibre footprint was expanded 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.
“The Group diversified the revenue pool acquiring an IT business and commercialised under-utilised infrastructure assets such as Masts and Towers and Data Centres.
“The Board would like to thank Sipho for his exemplary leadership, his contribution to Telkom and its shareholders and looks forward to further value enhancement during his remaining term.”