New CFO at Telkom
Mr Reuben September, Group Chief Executive of Telkom, today announced the appointment of Mr Peter Nelson as the new Chief Financial Officer and member of the Board of Directors.
Peter Nelson is a seasoned finance executive with a thirty year track record working with local and international companies, including Ernst & Young, De Beers, Barloworld, Mondi, BMW, Pretoria Portland Cement and Netcare.
A qualified Chartered Accountant with a financial, strategic and business management background; he has been exposed to several industry sectors, major capital projects and system improvement initiatives.
He also has extensive local and international M&A and treasury experience, and has partnered with several CEO’s in their quest to deliver shareholder value successfully.
Most recently at Netcare, Peter was intimately involved in their major and complex off-shore acquisition in the UK. The UK deal saw Netcare win the South African Dealmaker of the Year Award in 2006.
“I am delighted that Peter has accepted our invitation to join Telkom, where he will help the senior leadership team and I to consolidate our position as the leading South African and African telecommunications company,” said September.
Telkom’s mandate to an executive search firm was clear – find a high quality strategic and commercial Chief Financial Officer to assume leadership of the finance function for Telkom. His appointment, which was made after a comprehensive assessment of our options in the market, occurs at a time of considerable change for Telkom, especially within a highly competitive telecommunications and broader ICT sector.
The Chairman of the Board of Telkom, Ms ST Arnold welcomed Peter as executive director to the Board and looked forward to his contribution.
Peter’s key challenges will include managing the corporation’s finances in the increasingly complex convergence space and help lead the expansion programme for Telkom, with key M&A challenges, and also understanding the nuances around critical investment cycles.
“I believe that Peter will also play an important role in interacting with our key stakeholders and bring his considerable experience to bear at both the JSE and the New York Stock Exchanges. With his wealth of experience and strong leadership skills, we are confident that Peter will make a significant contribution to Telkom, and I have great pleasure in welcoming him to the corporation,” added September.
Peter Nelson will join Telkom on 8 December 2008.
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