South Africa's Telkom CFO retires after last year's suspension
JOHANNESBURG Aug 9 (Reuters) - The chief financial officer of South Africa's Telkom SA, who was suspended last year over charges of personal misconduct, has resigned with full benefits, the fixed-line operator said.
Telkom, whose largest shareholder is the South African government, said last October its had suspended Jacques Schindehutte over allegations of personal misconduct brought to the board by a whistleblower.
"Telkom and Mr Schindehutte have agreed that Mr Schindehutte will retire with full benefits and that the disciplinary proceedings will be discontinued," Telkom said in a regulatory filing late on Friday.
Schindehutte will resign with "immediate effect", it said.
Weeks after the suspension Telkom said it had loaned Schindehutte nearly 6 million rand ($563,000) 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 South African corporate law.
(1 US dollar = 10.6540 South African rand) (Reporting by David Dolan, editing by William Hardy)
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