Company Data
| Last traded |
R23.81 |
| Change |
R0.03 |
| % Change |
0.13% |
| Cumulative volume |
3.22m |
| Market cap |
R12.40bn |
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Johannesburg - Prominent businessman
Lazarus Zim has been named the new chairperson of Telkom, replacing the controversial
Jeff Molobela.
In an announcement to the JSE,
Telkom [JSE:TKG] said that Molobela had retired as chairperson but would stay on as a director on the board.
Molobela's tenure was wracked by controversy when former CEO Reuben September accused him of undue interference in the running of Telkom.
Zim’s priority would be to find a new CEO as acting CEO
Jeffrey Hedberg has resigned. Hedberg took over the helm after September’s
departure in 2010.
The government exercised its option to appointment a chairperson under the special rights it enjoys above other shareholders. The rights expire in March.
Zim's appointment took effect on Wednesday and he will serve for a year as chair and three as director.
He is a former chief executive of Anglo America SA and has held numerous directorships, including at MTN.
Zim is chairperson of Afripalm Resources and Northam Platinum. He is also a shareholder and director of TNA Media, publishers of The New Age newspaper
In addition to Zim and Molobela, the government's appointments included Navin Kapila, RJ Huntley and JN Hope.