Telkom disciplinary process still under way

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Telkom would probably resolve a disciplinary process into the alleged misconduct of suspended chief financial officer Jacques Schindehutte by the end of the year, he said yesterday. “It is a comprehensive process but I would like to think before the end of 2014” and not before the start of October, Schindehutte said when asked about the hearing. Pynee Chetty, a spokesman for Telkom, was not available for comment. Schindehutte was suspended in October after a board-commissioned investigation into unspecified allegations. A disciplinary hearing began on January 16. Deon Fredericks is filling Schindehutte’s position until the disciplinary process is concluded, according to a stock exchange announcement by Telkom. The JSE “is engaging with the company on this matter”, Andre Visser, the general manager of issuer regulation, said. Telkom is due to report full-year earnings a share tomorrow. The share price gained 0.84 percent to close at R41.98 yesterday. – Bloomberg

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