Telkom has suspended its chief financial officer, Jacques Schindehütte, pending the outcome of a disciplinary process.

“The board was recently made aware of certain allegations and appointed an independent law firm to investigate them,” the telecommunications operator says in a statement.

“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. The board was advised to suspend Mr Schindehütte, pending a disciplinary hearing.”

Telkom group CEO Sipho Maseko says: “The board of directors is determined to act responsibly and to uphold all governance requirements. 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,” says Maseko. “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.”

Schindehütte joined Telkom in 2010 from Absa, where he was financial director.

Tekom’s deputy chief financial officer, Deon Fredericks, has been appointed as acting chief financial officer “to ensure there is continuity in the financial management function”. — (c) 2013 NewsCentral Media