Telkom CEO Stepping Down

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Johan449

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Link: Telkom CEO Stepping Down

Johannesburg - Telecommunications group Telkom (TKG) on Friday confirmed the exit of its group CEO Reuben September but it provided no details as to why September would be stepping down.

The company said September would retire from his position and resign his directorship at the expiry of his contract in November 2010.

Business Day reported on Friday that September's departure was prompted by "ongoing interference" from board chairman Jeff Molobela, as representative of the
government, Telkom's largest shareholder.

September served Telkom for more than 33 years and was group CEO of Telkom from November 2007.

During his tenure September led the disposal of the 50% interest in Vodacom, the restructure of the group, launch of its Data Centre Operations branded as Cybernest
and the decision to take the company into the mobile sector later this year.

Telkom said a successor would be announced in due course.
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Don't government as major shareholder have a right to interfere just like any other board member?
 
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The company said September would retire from his position and resign his directorship at the expiry of his contract in November 2010.
Click to expand...

Mmm I read that as dictatorship the first time round :rolleyes:

Anyway - good riddance.
Now if only we could get the government out of there and break that company up into smaller shells.

Thanks for nothing Reuben, don't let the door hit your ass on the way out - hell November is still sooo far away :erm:
 
I hardly feel there will be any golden handshake besides his pension as his contract comes to an end according to the article. Hopefully anyway.
 
He is not "stepping down" ... his contract was not renewed... so he is effectively getting the boot.
 
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