Company Data
| Last traded |
R23.81 |
| Change |
R0.03 |
| % Change |
0.13% |
| Cumulative volume |
3.22m |
| Market cap |
R12.40bn |
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May 25 2012 13:58
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Johannesburg - Shares in South Africa's Telkom [JSE:TKG] fell after the company said its chief financial officer would resign in October, sparking further concern about the outlook for the troubled fixed-line operator.
At the close of trade on Tuesday, Telkom's shares were down 3.4% at 3 356c
Peter Nelson will resign as CFO and from the board of directors as of Oct 9, Telkom said in a statement.
The announcement of Nelson's departure comes just weeks after chief executive Reuben September stepped down.
September's replacement has yet to be named and the company has appointed the head of its struggling Nigeria unit as acting chief executive.
"Peter Nelson was a man who brought a lot sanity to Telkom, a lot of good common sense to the way that business is run, especially from the financial side. I believe that this is a bad thing," said David Lerche, an analyst at Avior Research.
- Reuters