Telkom announced on Friday that their chief financial officer (CFO), Tsholofelo Molefe, has resigned with immediate effect to pursue other interests.
Molefe joined Telkom in 2016 as deputy CFO and was appointed to the CFO role two years later, a role which she served for 2 years.
The group said Molefe, during her time as CFO, de-risked the balance sheet, optimised working capital management through structural changes and enhanced the capital allocation framework to focus on return on investment,
Openserve CFO Dirk Reyneke will take over as acting group CFO effective 7 December. Reyneke is a former CFO of Telkom Mobile and Gyro, Telkom’s property and towers business. He also led the integration process of BCX and Telkom Enterprise.
The group said it will appoint a permanent CFO at the end of a comprehensive process and wished Molefe well in her future endeavours.
The telecommunications provider recently unveiled a 'mixed bag' of financial results a month ago as revenue was down 0.4% for the six months ended 30 September, despite a surge in data revenue during the coronavirus lockdown.