Telecom service provider, Telkom has said that it has appointed Sipho Maseko as its new Chief Executive Officer (CEO) of the troubled fixed line company.

Maseko, who has been working as a managing director of Vodacom, has said that he is privileged to join the company and pledged to work with the chairman, the board and staff to address the problems of the company and boost growth. The company had recently announced a voluntary early retirement process for its employees in order to save costs and strengthen its financial position in the South African market.

Maseko said, "I feel privileged to have been appointed. Telkom is a key component of the South African economic and telecommunication landscape. It's seen as being in choppy waters at the moment and, together with the chairman, the board and staff, we will seek to urgently address the gaps across a whole lot of areas - financial sustainability, customer experience, network infrastructure investment and playing our part in gearing South Africa for growth."

Meanwhile, Telkom also appointed Brian Armstrong as chief operating officer, who will now replace Nombulelo Moholi in the company. The government owns a 39.7 per cent stake in the company directly and another 10.6 per cent through state-owned Public Investment Corporation (PIC). The company's chairman, Jabu Mabuza has affirmed that the company will make its own decisions and will not simply take orders from the government.