Business

Telkom appoints insider Serame Taukobong as CEO designate

Telkom appoints insider Serame Taukobong as CEO designate

SA's third largest telecom company Telkom said on Wednesday it had appointed the head of its consumer business, Serame Taukobong, to be group CEO designate with effect from October 1.

Taukobong, who is also a group executive committee member, replaces Sipho Maseko who will step down at the end of June next year.

Taukobong joined Telkom in June 2018 and has extensive experience in telecommunications, having spent about 10 years at rival MTN Group, where he held several senior roles which included COO and later CEO of MTN Ghana, Telkom said.

As CEO of the Telkom Consumer Business, the mobile business customer base grew three-fold to 15-million and its revenue almost doubled to R20bn within a three-year period, Telkom said.

Under his leadership, the mobile arm has become the third largest mobile business in SA, it said.

“The board, Group CEO and the Group CEO Designate remain committed to structurally separate Telkom and unlock value for shareholders,” the partly state-owned operator added.

Among the value unlock exercises, Telkom is looking for investors for its mast and tower business, which it believes is undervalued, since it is trapped in the group structure.

The exercise was started by Maseko, who has been credited with successfully turning the operator around from a business facing declining fixed-line voice revenue to a digitally led one fit to compete with the top two players, MTN and Vodacom Group.

During this transition period, Taukobong will continue to have oversight of Telkom Consumer Business, while a recruitment process for his successor starts immediately, Telkom said.

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