A shopper walks past a Telkom shop at a mall in Johannesburg. Picture: REUTERS/SIPHIEW SEBEKO
A shopper walks past a Telkom shop at a mall in Johannesburg. Picture: REUTERS/SIPHIEW SEBEKO

Telkom said on Monday it had appointed Keith Rayner to its board as non-executive director . 

Rayner, a qualified chartered accountant is no stranger to this role, having seats on the boards of two other JSE-listed companies- Sibanye-Stillwater and Ecsponent Limited.

He is CEO of KAR Presentations, an advisory corporation, which specialises in corporate finance and regulatory advice and presentations.

Rayner is also a member of the JSE Issuer Regulation Advisory Committee, a fellow of the Institute of Directors in SA, is a non-broking member of the South African Institute of Stockbrokers, and a member of the Investment Analysts Society of Southern Africa.

Telkom has had a number of changes to its board of directors in 2019. In June, Sello Moloko — another director of Sibanye-Stillwater — replaced Jabu Mabuza as chairman when the Eskom chair stepped down after serving two terms.

Telkom’s shares have gained about 75% over the past 12 months on hopes that the network operator’s fledgling mobile business will continue to win market share and on expectations that the group will unlock value from its vast property portfolio.

Shares in the operator were up as much as 1.65% in trading on Monday, giving the group a market capital of R45bn.

gavazam@businesslive.co.za