Telkom’s chairman, Sello Moloko, has resigned and will leave the board of the partially state-owned telecommunications operator by no later than 31 March 2023.

The company cited Moloko’s heavy workload for his decision to step down.

His exit comes after a report earlier on Wednesday said Moloko had been urged by the Reserve Bank’s Prudential Authority to step down to focus his attention on Absa.

Business Day, citing sources with knowledge of the matter, said Moloko (paywall), who took the reins on Absa’s board in April from Wendy Lucas-Bull, said Telkom board had considered appointing Mteto Nyati as chair. Nyati, a former CEO of Altron and MTN South Africa, recently acquired a 40% stake in business technology consultancy BSG.

Moloko was appointed as Telkom board chair in 2019. He joined the board of Telkom in 2018 as an independent non-executive director.

“The board has commenced the process to identify a suitable replacement [to Moloko],” Telkom said on Wednesday.  – NewsCentral Media