THURSDAY 10.30AM
TELKOM’S MD and CEO Brian Clark yesterday announced his resignation with immediate effect. A Telkom statement said Clark left “to pursue other interests”.
However, Telkom sources suggest his resignation had more to do with a dilution of his powers following the sale of a strategic equity stake in the parastatal to a US-Malaysian consortium. From being the only executive, Clark became one of four in a complex new executive management structure intorduced by the new equity partners.
In the meantime, Telkom chairman Dikgang Moseneke will stand in as acting MD and CEO until a new incumbent is announced. “Telkom’s reconstituted board of directors, with SBC Communications and Telekom Malaysia, will in due course appoint a new chief executive officer,” said Moseneke. He also expressed gratitude to Clark on behalf of Telkom’s board and workers for steering the corporation through a difficult period of transformation.
BUSINESS BRIEFS
MAYDAY HOLIDAY
MAY 1 is the Workers’ Day holiday in South Africa. Businesses are closed.
ZIM MAIZE CROP DOWN
DISEASE and waterlogging have slashed Zimbabwe’s maize crop to below 2,1-million tons, after expectations of a bumper 2,8-million ton harvest for the year. The Zimbabwe Ceral Producers’ Association had expected to export 500 000 tons this year, but has revised the figure to 200 000 tons.