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The Board of Telkom has suspended the company's Chief Financial Officer, Mr Jacques Schindehütte, pending a disciplinary process.
The 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.
The Board was advised to suspend Mr Schindehütte, 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, Mr Deon Fredericks, as Acting Chief Financial Officer to ensure there is continuity in the financial management function.
Pynee Chetty Senior Specialist: Media Relations Group Communication Tel:+27 12 642 1716 Mobile: +27 81 389 7874 Email: chettpr2@telkom.co.za |
OR |
Leigh-Ann Francis Specialist: Media Relations Group Communication Tel: +27 12 642 1728 Mobile: +27 81 391 4780 Email: francilm@telkom.co.za |
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Telkom is a leading communications services provider in South Africa. We had consolidated operating revenue of R16.8 billion and normalised profit after tax of R1, 683 million for the period ended 30 September 2015. Total assets amounted to R41.9 billion and equity attributable to the owners of Telkom to R23.5 billion as of 30 September 2015. The group generated normalised free cash flow of R1.4 billion for the period ended 30 September 2015.
As of 30 September 2015, we had approximately 3.3 million telephone access lines in service and 1,030,441 ports connected via MSAN access. We offer business, residential and payphone customers a wide range of services and products, including:
Convergence is one of our key strategic initiatives in building a sustainable future for Telkom. We will lead the provision of converged services in South Africa in support of our mission statement: Seamlessly connecting people to a better life.