Telkom CEO Leaves

[Gatecrasher]

17:54 05Apr2007 JSE-TELKOM <TKGJ.J> TKG - Telkom SA Limited - Resignation of CEO

TKG - Telkom SA Limited - Resignation of CEO

Telkom SA Limited
(Registration number 1991/005476/06)
JSE and NYSE Share code TKG ISIN ZAE000044897
("Telkom" or "the company")

Resignation of CEO
Telkom wishes to announce that Mr. LRR (Papi) Molotsane, the Chief
Executive Officer, has left it's employ with effect from 5 April 2007.
The company wishes to thank Mr Molotsane for the services he rendered in
the last eighteen months and wish him well in his future endeavors.
Mr. RJ (Reuben) September has been appointed as the Acting Chief Executive
Officer and Mr MJ (Motlatsi) Nzeku has been appointed as Acting Chief
Operating Officer until further notice.
The company will embark on a process of finding a replacement and an
announcement in this regard will be made in due course.
Pretoria
5 April 2007

Enquiries:
Ms Shirley Lue Arnold
Chairperson of the Board
On behalf of the Board of Telkom SA Limited

Sponsor
UBS Securities South Africa (Pty) Limited
Date: 05/04/2007 16:55:01 Produced by the JSE SENS Department.

 

[Random717]

the beast is falling

 

[GavinMannion]

OMF....

http://www.itweb.co.za/sections/telecoms/2007/0704021100.asp?A=BSR&S=BestRead&O=FPIN
Report on IT Web that Papi was safe for now... That was from this morning.

It looks like the government might have pushed him because he didn't lower the costs of telecommunication as he was told to...

Weirder things have happened. I am just not sure when?

 

[supersunbird]

Empty-promises Molotsane is bye bye!

RPM for Telkom CEO!!!

 

[eremos]

HOLY BUGGERS! What a blinder at the end of the day!

I'm stunned!

 

[Random717]

http://www.sharenet.co.za/v3/sens_display.php?tdate=20070405165501&seq=1865

 

[texo]

UnFARKINGbelievable!!

Has the worm turned for Telkom?

 

[Gatecrasher]

@GC, it's a bit late for April Fools jokes...

He's been shoved out with immediate effect. Not even a notice period. Pack your bags and leave, Mr M.

This has DOC written all over it.

Maybe Government are at last getting serious about bringing down prices.

 

[RichardP]

Happy Easter Holidays Papi.....

 

[MrG]

Papi! So who is the next CEO of the wonderful Telkom SA Ltd

 

[naeem]

wow. shocked.

Vat jou goed en Trek, jou ma se kind

Lets hope ( i know i know) but lets hope the next CEO offeres better.... agh stuff it. I'm jmping to neotel once they'r up. Call it an act of principal & ethics

 

[LabAnimal]

*FAINT*

 

[Axis]

Good Riddance!!!

 

[Sneeky]

His word and his pillars were not worth **** anyway and he has made his millions, cheers Papi, dont come back anytime soon you hear.
I hope the door hits you on the way out.

 

[belowalthough]

Good. He Did Nothing Anyways.

 

[sabagamma]

Good riddance! You have done sweet f**kall in your tenure!

 

[AntiThesis]

Dammit I need more smileys!

 

[kolakidd]

Awesome start to the long Weekend!

And just in time for the market close.

 

[Surv0]

I think i may just cry right now... from happiness *sniff*

 

[Franna]

Perfectly timed news alert to avoid the Telkom share price dropping due to market surprise. This has always been the case with Telkom and DoC announcements, issued at the end of business on a Friday afternoon.

Something was not right when two executives recently quit, and now the CEO. I believe Papi did not have enough telecoms experience to take on the pending competition.

Papi's pillars have come crushing down...