Zim to retire as Telkom chairperson

Cape Town - Lazarus Zim has informed the board of Telkom [JSE:TKG] of his retirement as chairperson and director at the end of the company's annual general meeting in October 2012.

Zim joined the Telkom board in February 2011 when the government exercised its right to name a new Telkom chairperson. He replaced the controversial Jeff Molobela, whose tenure was wracked by controversy when former CEO Reuben September accused him of undue interference in the running of Telkom.

In an  announcement to the JSE on Tuesday, Telkom said that Zim has informed the board of his retirement and the "board thanks him for his valuable contribution to Telkom and wishes him well in the future".

Telkom's share price was up 0.78% at R18 in early trade on Tuesday.

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