Johannesburg - Telecommunications group Telkom [JSE:TKG] has appointed Sipho Maseko as its new group chief executive and executive director with effect from April 1.
Maseko has previously served as the managing director at Vodacom SA. His tenure with Vodacom included fulfilling the position of chief operating officer at Vodacom Group.
Brian Armstrong has been appointed as Telkom’s chief operating officer.
These appointments enable the departure of the incumbent group chief executive Nombulelo Moholi at the end of March‚ Telkom said in a statement.
"The appointment of a seasoned executive with telecommunications experience is another building block in Telkom’s turnaround process‚” said Telkom chairperson Jabu Mabuza.
"The objective of Telkom’s turnaround is to deliver a sustainable performance.”
The market warmly received the appointments‚ with the share on the JSE rallying 3.3% to R14.63 as at 13:30.
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