South Africa’s third-largest mobile operator revealed that its long-serving CEO Sipho Maseko would depart on June 30, 2022. In an e-mailed statement, Maseko said that he believes the moment has come for him to step down to create space for a new leader who will lead Telkom to even higher heights. However, to guarantee a smooth transition for his successor, he has committed to staying until June 2022. He continued to note his gratitude to his colleagues across the country for “entrusting the leadership of Telkom and unwavering support during this period of transition.”
According to Telkom, the search for a successor is already underway, and a new leader will be revealed: “in the not-too-distant future.”
Maseko joined Telkom in April 2013 at a time when the company was experiencing significant difficulties. “He took the company around and evolved it from a typical fixed business to a portfolio of businesses that includes the Mobile, IT, Wholesale infrastructure business, and the Masts and Tower portfolio during his eight-year tenure,” Telkom stated.
The Telkom board commended him for “his leadership qualities” and stated that he would continue to add value throughout his remaining tenure. “The Group has achieved several significant strategic achievements in the implementation of its broadband led strategy under his leadership, which are evident in the Group’s current robust position,” it stated.
Telkom’s mobile business developed to become the third-largest in South Africa, surpassing Cell C with over 15 million users and US$ 1.35 billion in revenue. Its fibre footprint has grown dramatically in recent years, and its fixed customer base has migrated to new technologies.
“Today, the number of fibre-connected households outnumbers the number of copper-connected homes,” Telkom added. Maseko also helped the company diversify its revenue streams by purchasing an IT company and commercialising underutilised infrastructure assets like masts, towers, and data centres.
