Telkom appoints two board members
Telkom has appointed two board members and an executive in its cellphone business.
The parastatal appointed Jabulane Mabuza and Kholeka Mzondeki to the board yesterday, Business Day reported.
It also warned that earnings could drop by as much as 83%.
Six board members, including CEO Nombulelo Moholi and board director Neo Phakama Dongwana, resigned earlier in November.
The election of a new chairman may be contested by board members, especially those appointed by government, Business Day reported.
Yesterday, the parastatal warned headline earnings per share could drop by 83%. Its share price had fallen by 10% since Moholi’s resignation.
Communications Minister Dina Pule voted off four board members at Telkom’s annual general meeting in October.
The meeting was last chaired by Lazarus Zim, who announced his resignation as Telkom chairman in September.
Moholi had rejected speculation that she intended resigning after Zim left.