{"id":16418,"date":"2012-11-05T20:32:20","date_gmt":"2012-11-05T18:32:20","guid":{"rendered":"http:\/\/www.myza.co.za\/11\/update-2-ceo-adds-to-exodus-from-s-africas-telkom\/"},"modified":"2012-11-05T20:32:20","modified_gmt":"2012-11-05T18:32:20","slug":"update-2-ceo-adds-to-exodus-from-s-africas-telkom","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-ceo-adds-to-exodus-from-s-africas-telkom\/","title":{"rendered":"UPDATE 2-CEO adds to exodus from S.Africa&#8217;s Telkom"},"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><span><\/span><\/p>\n<p>* Shares fall more than 2 pct<\/p>\n<p> (Adds analyst comment, shares)<\/p>\n<p><span><\/span><\/p>\n<p>By Helen Nyambura-Mwaura and Tiisetso Motsoeneng<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Nov 5 (Reuters) &#8211; South Africa&#8217;s biggest<br \/>\nfixed-line phone company Telkom SA lost its fifth chief<br \/>\nexecutive in seven years on Monday, less than a month after the<br \/>\ndeparture of its chairman and several directors.<\/p>\n<p><span><\/span><\/p>\n<p>The future of the state-controlled telecom, whose shares are<br \/>\ndown 40 percent this year, has been thrown into doubt by<br \/>\ntentative government plans to renationalise and force it to push<br \/>\nthrough a costly expansion of rural internet access.<\/p>\n<p><span><\/span><\/p>\n<p>The government in June also rejected a $385 million bid for<br \/>\n20 percent of the company from South Korean group KT Corp<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>Telkom, the bigggest fixed-line operator in Africa, said<br \/>\nthat Chief Executive Nombulelo Moholi had given her six months<br \/>\nnotice, meaning she will depart in May, about a year before her<br \/>\ncontract was due to expire.<\/p>\n<p><span><\/span><\/p>\n<p>The government &#8211; which owns a near 40 percent stake and a<br \/>\nfurther 10.5 percent through the state pension fund &#8211; has<br \/>\ndiscussed ways to finance a buy-out and its communications<br \/>\nminister is due to present a report on the company&#8217;s future to<br \/>\ncabinet.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* CEO to leave before her contract expires * Telkom struggling to turnaround * Shares fall more than 2 pct (Adds analyst comment, shares) By Helen Nyambura-Mwaura and Tiisetso Motsoeneng JOHANNESBURG, Nov 5 (Reuters) &#8211; South Africa&#8217;s biggest fixed-line phone company Telkom SA lost its fifth chief executive in seven years on Monday, less than [&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-16418","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\/16418","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=16418"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16418\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}