Johannesburg - Telkom [JSE:TKG] on Wednesday named Jacques Schindehutte as chief financial officer as the troubled fixed-line operator tries to make a turnaround.
Telkom, which has the government as its largest shareholder, has had trouble maintaining senior management.
Jeffrey Hedberg, who was named acting CEO in July 2010, stepped down when his contract expired at the end of March. Former CEO Reuben September left last year and was later followed by chief financial officer Peter Nelson.
Schindehutte was until recently the group financial director at South Africa's biggest retail bank Absa Group [JSE:ASA].
Telkom shares were up 1.7% at R36.05 in afternoon trade, outperforming the JSE All Share [JSE:J203] index that is nearly 1% up.
Telkom, which has the government as its largest shareholder, has had trouble maintaining senior management.
Jeffrey Hedberg, who was named acting CEO in July 2010, stepped down when his contract expired at the end of March. Former CEO Reuben September left last year and was later followed by chief financial officer Peter Nelson.
Schindehutte was until recently the group financial director at South Africa's biggest retail bank Absa Group [JSE:ASA].
Telkom shares were up 1.7% at R36.05 in afternoon trade, outperforming the JSE All Share [JSE:J203] index that is nearly 1% up.