Telkom CFO Jacques Schindehutte suspended

The Board of Telkom has suspended the company’s Chief Financial Officer, Jacques Schindehutte, pending a disciplinary process.

Telkom said that its board was recently made aware of certain allegations and appointed an independent law firm to investigate them.

“The results of the investigation were presented to the Board, and the Board took professional advice about the correct way to deal with the report,” Telkom said.

The Board was advised to suspend Schindehutte, pending a disciplinary hearing.

“The Board of Directors is determined to act responsibly and to uphold all governance requirements,” said Telkom Group CEO Sipho Maseko.

“We have a duty to investigate and to test the validity of allegations which are brought to our attention through an appropriate process. We will do this fairly, without favour or prejudice.

“The Board and the Company will ensure that the correct procedures will be implemented to manage this matter in a fair manner.

“All our stakeholders will be informed of the outcome of the disciplinary hearing once the matter is concluded. Until then, the company is not in a position to provide more information,” said Mr Maseko.

Telkom has appointed its Deputy Chief Financial Officer, Deon Fredericks, as Acting Chief Financial Officer to ensure there is continuity in the financial management function.

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Telkom CFO Jacques Schindehutte suspended