Schindehütte resigns with full benefits

THE CHIEF financial officer of Telkom, who was suspended last year over charges of personal misconduct, had resigned with full benefits, the fixed-line operator said on Friday. Telkom, whose largest shareholder is the South African government, said in October last year that it had suspended Jacques Schindehütte over allegations of personal misconduct brought to the board by a whistle-blower. “Telkom and Mr Schindehütte have agreed that Mr Schindehütte will retire with full benefits and that the disciplinary proceedings will be discontinued,” Telkom said in a regulatory filing late on Friday. Schindehütte would resign with “immediate effect”, it said. Weeks after the suspension Telkom said it had loaned Schindehutte nearly R6 million to purchase its shares. He later repaid the loan and Telkom chief executive Sipho Maseko was ordered to attend a corporate governance course after a government watchdog found the loan to be in violation of corporate legislation. – Reuters