However, the Public Investment Corporation (PIC), which owns 10.5% of Telkom, said that the role of the government in strategic decision-making needed to be clarified.
"The appointments stabilise the leadership of Telkom. This should allow Telkom to focus on delivering for all its shareholders," Pule's spokesman, Siya Qoza, said.
The PIC said it hoped the Telkom board had done its due diligence and made the appointment according to Maseko's experience and the requirements of the position.
"Coupled with that, we also believe that the resurrecting of the chief operating officer's position and appointment of Brian Armstrong, does strengthen the strategic development and monitoring within the group," the PIC said.
Maseko said: "The issues [at Telkom] are big and complex. They need to be addressed with the management team quickly, systematically and sustainably."
He warned that with 20,000 employees, Telkom was too big.
Irnest Kaplan, managing director of Kaplan Equity Analysts, said the employment of Maseko was positive for the group and it looked like Telkom chairman Jabu Mabuza, was "taking a lot of things head on".
Formerly, Maseko was the managing director of Vodacom SA and was also the chief executive of BP Southern Africa.
According to Telkom's 2012 annual report, issued earlier this year, the government owns 39.8% of the company, the PIC holds 10,5% and Allan Gray 5.4%. The free float is about 42%.
Source: Business Day via I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
