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BL Premium reports that Madoda Mxakwe, CEO of the SABC, will not renew his contract when it expires at the end of the month, becoming the first boss to complete a full five-year term at the troubled organisation in 15 years.
Mxakwe took over the helm at the SABC in 2018 after the controversial stewardship of the broadcaster by COO Hlaudi Motsoeneng. Mxakwe’s exit comes two months after Ramaphosa appointed a new board for the public broadcaster. He leaves behind an organisation that has yet to make any money, and in an environment where businesses are reining in costs such as advertising to ride out an economic downturn caused by persistently high inflation and aggressive interest rate hikes. Still, the SABC has narrowed losses by almost three-quarters under Mxakwe’s tenure. This was largely thanks to a punishing cost-cutting strategy that included slashing jobs to reduce the public broadcaster’s wage bill. Mxakwe, a former executive at Nestle, will leave the organisation in the hands of Nada Wotshela, head of the SABC’s radio division.
- Read the full original of the report in the above regard by Tiisetso Motsoeneng at BusinessLive (subscriber access only)
Get other news reports at the SA Labour News home page