Telkom recently released its financial results for the year ended 31 March 2018, which showed a big decline in headline earnings per share.
As a result of lower earnings and it struggling to hold on to its fixed-line customers, Telkom cut its annual dividend by 16% to R3.55 per share.
What emerged in reports following its financial results was that Telkom is also struggling with a loss of experienced executives.
Since 2017, Telkom has lost over 50% of its executive committee. This includes COO Brian Armstrong and former BCX CEO Isaac Mophatlane.
More recently, Telkom lost its consumer CEO Attila Vitai, its enterprise CEO Johann Henning, and Trudon CEO Thabo Seopa.
The recent departures follow several key executives leaving prior to 2017.
A Telkom spokesperson explained that the changes to its executive committee were driven by retirements, resignations, and changes to its operating model.
Telkom said it had succession plans for 94% of all senior managers in the business and is currently migrating skills within its operations to drive future competitiveness.
Update: The article has been updated to include the resignation of BCX CEO Ian Russell.
Telkom’s executive committee
The graphic below shows Telkom’s executive committee from 2017, and those who have left the company in the past year.