Telkom’s chief financial officer, Peter Nelson, is stepping down from Telkom six weeks before has contract was due to expire. But Nelson says there’s “nothing untoward” about his decision to leave early.
The JSE-listed telecommunications group used a stock exchange news service announcement on Thursday afternoon to break the news.
“Shareholders are advised that Peter Nelson will now leave the company with effect from 25 August 2010,” Telkom said, without providing reasons.
But Nelson tells TechCentral that nothing should be read into his decision to leave his post early. He says that once Telkom had found someone to act in the position, it made sense for him to leave. “When you are in your notice period, it’s always a difficult time,” he says.
Nelson is understood to have been unhappy about the way the board of Telkom was being run under nonexecutive chairman Jeff Molobela. Some senior Telkom executives have accused Molobela of behaving like an executive chairman and interfering in the day-to-day running of the group. Molobela has hit back at the accusations.
The early exit by Nelson follows the premature departure of former CEO Reuben September. September’s contract was not renewed by the board, prompting his decision to quit.
Telkom says the board has commenced a process to appoint a new chief financial officer. Deon Fredericks, group executive for accounting services will act in the position until an appointment has been made. — Staff reporter, TechCentral
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