]Fixed-line operator Telkom has installed company veteran Deon Fredericks as its acting chief financial officer, as Peter Nelson has left the company earlier than expected.
Nelson, appointed as Telkom CFO in November 2008, unexpectedly announced his resignation in July. His resignation notice period was originally due to end on 9 October but it has now been revealed he has left the company with immediate effect.
The CFO's resignation, for which no explanation was offered by Telkom, came shortly after the company announced CEO Reuben September would leave with immediate effect.
No reason has been given for Nelson leaving early; however, Telkom has appointed Fredericks to take over the reigns as acting CFO, while the search continues for a permanent replacement.
Fredericks, who currently holds the position of group executive for accounting services at Telkom, is not new to the role. In 2007, when then Telkom CFO Kaushik Patel resigned, Fredericks took over the role of acting CFO.
The company veteran began his career at Telkom in 2003. In 2008, he was appointed as a group executive.
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