Telkom South Africa CFO steps down

Telkom South Africa CFO steps down

Telkom South Africa’s CFO, Jacques Schindehutte, has resigned with full benefits, following a suspension late last year.

In October 2013, Schindehutte was suspended by the company due to a number of unspecified allegations, and the CFO has now left his position for good.

“Telkom and Mr Schindehutte have agreed that Mr Schindehutte will retire with full benefits and that the disciplinary proceedings will be discontinued,” Telkom SA said in a regulatory filing.

Last year, Telkom’s CEO said he wanted to manage the allegations against Schindehutte “quietly” and was not keen to investigate the situation.

Schindehutte is set to resign with “immediate effect”.

In January this year, Telkom SA announced plans to cut a third of its workforce in a bid to revive revenues.

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