{"id":16309,"date":"2012-11-05T08:31:23","date_gmt":"2012-11-05T06:31:23","guid":{"rendered":"http:\/\/www.myza.co.za\/11\/update-1-s-africas-telkom-says-ceo-to-step-down\/"},"modified":"2012-11-05T08:31:23","modified_gmt":"2012-11-05T06:31:23","slug":"update-1-s-africas-telkom-says-ceo-to-step-down","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africas-telkom-says-ceo-to-step-down\/","title":{"rendered":"UPDATE 1-S.Africa&#8217;s Telkom says CEO to step down"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* CEO to leave before her contract expires<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Telkom struggling to turnaround<\/p>\n<p> (Adds details, background)<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Nov 5 (Reuters) &#8211; South Africa&#8217;s Telkom<br \/>\n said on Monday its chief executive would step down<br \/>\nbefore her contract expires as the telecoms company struggles to<br \/>\ncraft a convincing turnaround strategy.<\/p>\n<p><span><\/span><\/p>\n<p>Nombulelo Moholi, who was appointed to the position in April<br \/>\nlast year, has given the fixed-line operator the requisite<br \/>\n6-month notice, the company said in a brief statement.<\/p>\n<p><span><\/span><\/p>\n<p>Stung by declining fixed-line usage and an expensive, failed<br \/>\nattempt at expansion into Nigeria, Telkom launched a mobile<br \/>\nphone unit that some analysts have said lacked strategic logic.<\/p>\n<p><span><\/span><\/p>\n<p>Shares in the company are down nearly 40 percent so far this<br \/>\nyear, underperforming a near 20 percent gain the All-share index<br \/>\n and underscoring the lack of investor confidence in the<br \/>\nstock whose top shareholder is the South African government.<\/p>\n<p><span><\/span><\/p>\n<p>In June, the government, which owns nearly 40 percent of<br \/>\nTelkom, rejected South Korea&#8217;s KT Corp offer for a<br \/>\n20 percent stake in the company.<\/p>\n<p> (Reporting by Tiisetso Motsoeneng; Editing by Ed Stoddard)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* CEO to leave before her contract expires * Telkom struggling to turnaround (Adds details, background) JOHANNESBURG Nov 5 (Reuters) &#8211; South Africa&#8217;s Telkom said on Monday its chief executive would step down before her contract expires as the telecoms company struggles to craft a convincing turnaround strategy. Nombulelo Moholi, who was appointed to the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-16309","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=16309"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16309\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}