Outgoing Transnet finance chief Nonkululeko Dlamini takes over as CFO of Telkom at the beginning of December, the SA telecom company announced on Friday.
The state logistics company announced the departures of CEO Portia Derby and Dlamini. Dlamini, who joined the company in 2020, was leaving immediately. Derby, who also joined Transnet three years ago, will vacate her office at the end of October.
Dlamini’s appointment at Telkom comes as incumbent CFO Dirk Reyneke steps down from the role and board on November 30. He will assume the role of chief capital projects officer.
The group said the role will oversee the next phase of its return on invested capital model implementation. It said Reyneke will work closely with Dlamini to ensure her seamless transition to the group CFO role.
Dlamini, a chartered accountant, was previously CFO of the Industrial Development Corporation of SA and acting CFO of Eskom. She held other management positions at the power utility. Dlamini also has experience as a nonexecutive director at Kumba Iron Ore and the Small Enterprise Finance Agency.
Also on Friday, former Altron and MTN SA CEO Mteto Nyati resigned from his position as a nonexecutive director at Telkom immediately. The company said the resignation follows “recent developments which have resulted in capacity constraints on his side”.
Nyati, executive chair of IT consulting firm Business Systems Group after taking a 40% stake in the company last year, has board seats at Nedbank and Eskom.
Elsewhere in the telecom sector, Cell C is looking for a new CFO after Lerato Pule resigned in August, less than a year after joining the telecom operator.
Pule, a chartered accountant and former CFO of Telkom’s SME business, replaced former Cell C CFO Zaf Mahomed at the start of September 2022.
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