All change at the top in major sectors

IT has been a tumultuous year for the CEOs of listed companies and many had to throw in the towel as the going got tougher.

Absa hogged the headlines when it came to departing executives; even CEO Maria Ramos's head was rumoured to be on the chopping block. The bank's outgoing chairman Garth Griffin jumped to her defence.

Deputy CEO Louis von Zeuner is leaving his post in the new year after more than 30 years with the bank.

After losing a number of key executives Absa went on a drive to poach from its rivals. It lured Standard Bank's Kennedy Bungane to be chief executive for Barclays Africa and head of Africa strategy, and Craig Bond was lured across to be chief executive of Africa retail and business banking.

Standard Bank retaliated by taking Absa's head of vehicle-asset finance, Sydney Soundy. It created a new role for Peter Schlebusch, appointing him as group CEO for personal and business banking in a bid to increase its retail banking profile and earnings outside South Africa. Funeka Ntombela was promoted from financial director of personal and business banking in South Africa to head of home loans and credit at Standard Bank SA.

The telecoms sector was also shaken up. Vodacom's first CEO, Alan Knott-Craig, came out of retirement to lead CellC. He rattled the market by introducing a number of specials and slashing call rates.

Knott-Craig's former colleague Pieter Uys announced plans to step down as Vodacom CEO next year. He is to be replaced by Shameel Joosub. The group's managing director, Sipho Maseko, also quit his post after a nine-month stint.

The biggest casualty in the telecoms sector was Nombulelo "Pinky" Moholi, who resigned as Telkom's CEO after just 18 months at the helm. She was the parastatal's fifth CEO in seven years.

Moholi's resignation followed the departure of the group's chairman and other board members. She oversaw the R68-million sale of the Multi-Links business to Helios Towers Nigeria. She was also there when the government rejected a R3.3-billion offer from Korea-based KT Corporation to buy 20% of the group.

Telkom's board has since been bolstered by Absa's Von Zeuner and Santie Botha, chairwoman of Curro.

Also joining the board are Cisco SA's former general manager, Clive Finn; Anglo American SA executive director Khanyisile Kweyama; and investment expert Fagmeedah Petersen of the Government Employee Pension Fund. The group is still to appoint a CEO.

SAA continued to attract controversy - the latest being the appointment of its chairwoman, Dudu Myeni, who is said to have close links with President Jacob Zuma. The national carrier had been rocked by the simultaneous resignations of eight of its 14 board members, including its chairwoman Cheryl Carolus.

Anglo American reshuffled top management across its SA businesses, which led to Anglo Platinum CEO Neville Nicolau's resignation and Kumba Iron Ore CEO Chris Griffith taking his place. Griffith is now tipped to take over from Anglo American CEO Cynthia Carroll following her resignation announcement.

SA National Roads Agency CEO Nazir Alli made a U-turn on his resignation after Deputy President Kgalema Motlanthe called him back to continue implementing e-tolling.