Telkom has appointed Serame Taukobong as the group CEO designate to replace Sipho Maseko, who headed the JSE-listed telephony company for eight years.
The company recently announced the departure of Maseko, saying he will step down as group CEO and executive director of Telkom and its subsidiaries on 30 June 2022.
Today, Sello Moloko, Telkom chairperson, announced the appointment of Taukobong as the new CEO designate.
“Serame is a seasoned executive with deep experience in the ITC sector in South Africa and the continent. His appointment ensures continuity of our value unlock strategy,” says Moloko.
Commenting on his appointment, Taukobong says having worked under Maseko’s leadership for three years, he will be taking over a solid business with a capable and committed team.
“The team and I are conscious of the challenges that lie ahead and are committed to attracting and retaining the best people, winning in the marketplace and delivering value for shareholders.”
Until his new appointment, Taukobong has been CEO of Telkom Consumer, and has aggressively pushed the group’s mobile business segment as it is faced with a massive decline in traditional fixed-line revenue.
Under his watch, Telkom Mobile has been on a profitable path, evidenced by the unit’s stellar performance recorded in the quarter ended 30 June.
In the quarter, Telkom’s consumer business revenue grew 8.3% to R6.5 billion, driven by growth in mobile revenue, which grew 13% to R4.4 billion.
Mobile data revenue grew by 11.1% to R3.2 billion, supported by 30.9% growth in mobile broadband customers to 10.5 million.
In the period under review, mobile EBITDA, or earnings before interest, taxes, depreciation and amortisation, margin was maintained at 28.4%, benefiting from both revenue growth and cost containment.