Telkom announced today that its chairman Sello Moloko has resigned due to workload reasons.
Moloko will step down as chairman of the partially state-owned telco by no later than 31 March 2023.
Moloko is also the chairman of Absa.
He took the reins on Absa’s board in April from Wendy Lucas-Bull.
Moloko was appointed as the chairman of Telkom board on 20 March 2018 and became Chairperson of the Board in June 2019.
He served as a Member of the Remuneration Committee and Chairperson of the Nominations Committee.
“Sello Moloko has informed the Board of his intention to step down as an independent Non-
Executive Director and Chairperson of the Board due to workload reasons,” Telkom informed investors.
“The Board has commenced the process to identify a suitable replacement. The date of Moloko’s departure will be no later than 31 March 2023 to ensure an effective transition. Once the Board has agreed the date of Moloko’s resignation, a further announcement will be published.
“The Board and Management are grateful to Mr. Moloko for his valuable contribution and leadership particularly during the challenging economic times imposed by the Covid-19 pandemic.”
Also read: Bank regulator ‘thinks Telkom chair Moloko has too much on his plate’ (paywall)