BTTB
23-09-2004, 09:04 AM
http://www.busrep.co.za/index.php?fSectionId=&fArticleId=2233637
<b>Telkom gets infusion of new blood on board
September 22, 2004</b>
By Gugulakhe Masango
Johannesburg - Communications Minister Ivy Matsepe-Casaburri yesterday beefed up Telkom's board with new appointments to help the fixed-line telephone group with fresh ideas to deal with the challenges of the proposed big bang liberalisation of the telecommunications sector.
Telkom said Matsepe-Casaburri had appointed three new non-executive directors after the term of office had expired for three previous directors, which included Rick Menell, the deputy chairman of African Rainbow Minerals.
The directors will be expected to chart a new path for Telkom's most vulnerable areas to competition.
These areas include domestic and international call rates, which account for about 3 percent of the group's total revenue of R40 billion.
The new three non-executive directors are Dumisani Tabata, Richard Tenza and Veli Ntombela. They are joined by Thenjiwe Chikane, who replaced Themba Vilakazi who resigned as a director of Telkom.
Belinda Williams, Telkom's investor relations executive, confirmed the appointment of the three non-executive directors and that of Chikane to replace Vilakazi.
The non-executive directors will represent the government on the Telkom board and replace Menell, Peter Moyo, the deputy managing director of Old Mutual Life Assurance, and Tlhalefang Sekano, the executive chairman of the Communication Workers' Investment Company.
Telkom is 38.3 percent owned by the government and 15.1 percent by Thintana Communications, effectively giving the two shareholders a controlling stake in the business. The government has the power to appoint directors through its golden share.
In June Thintana reduced its 30 percent share to 15.1 percent. This entitles it to appoint three directors.
Chikane is the chief executive of MGO Consulting and a qualified chartered accountant. Ntombela is a tax specialist and a director at accounting firm Sizwe Ntsaluba.
Tenza is a director of consulting company Global Business Equilibrium and Tabata is a director of Smith Tabata, a firm of attorneys, notaries and conveyancers in King William's Town.
Telkom shares rose R1.99 to close at R74.99. The telecoms sector increased 2 percent.
<b><hr noshade size="1"></b><font size="2"><font color="red"><b>You can take Telkom out of the Post Office but you can't take the Post Office out of Telkom.</b></font id="red"></font id="size2">
<b>Telkom gets infusion of new blood on board
September 22, 2004</b>
By Gugulakhe Masango
Johannesburg - Communications Minister Ivy Matsepe-Casaburri yesterday beefed up Telkom's board with new appointments to help the fixed-line telephone group with fresh ideas to deal with the challenges of the proposed big bang liberalisation of the telecommunications sector.
Telkom said Matsepe-Casaburri had appointed three new non-executive directors after the term of office had expired for three previous directors, which included Rick Menell, the deputy chairman of African Rainbow Minerals.
The directors will be expected to chart a new path for Telkom's most vulnerable areas to competition.
These areas include domestic and international call rates, which account for about 3 percent of the group's total revenue of R40 billion.
The new three non-executive directors are Dumisani Tabata, Richard Tenza and Veli Ntombela. They are joined by Thenjiwe Chikane, who replaced Themba Vilakazi who resigned as a director of Telkom.
Belinda Williams, Telkom's investor relations executive, confirmed the appointment of the three non-executive directors and that of Chikane to replace Vilakazi.
The non-executive directors will represent the government on the Telkom board and replace Menell, Peter Moyo, the deputy managing director of Old Mutual Life Assurance, and Tlhalefang Sekano, the executive chairman of the Communication Workers' Investment Company.
Telkom is 38.3 percent owned by the government and 15.1 percent by Thintana Communications, effectively giving the two shareholders a controlling stake in the business. The government has the power to appoint directors through its golden share.
In June Thintana reduced its 30 percent share to 15.1 percent. This entitles it to appoint three directors.
Chikane is the chief executive of MGO Consulting and a qualified chartered accountant. Ntombela is a tax specialist and a director at accounting firm Sizwe Ntsaluba.
Tenza is a director of consulting company Global Business Equilibrium and Tabata is a director of Smith Tabata, a firm of attorneys, notaries and conveyancers in King William's Town.
Telkom shares rose R1.99 to close at R74.99. The telecoms sector increased 2 percent.
<b><hr noshade size="1"></b><font size="2"><font color="red"><b>You can take Telkom out of the Post Office but you can't take the Post Office out of Telkom.</b></font id="red"></font id="size2">