South African fixed line operator Telkom has suspended its chief financial officer (CFO), Jacques Schindehütte, pending a disciplinary hearing.

According to a statement, the Telkom board was made aware of certain allegations against Schindehütte and therefore appointed an independent law firm to investigate them.

The nature of the allegations have not been revealed by Telkom.

The results of the investigation were presented to the board, and the board took professional advice about the correct way to deal with the report, the statement continues.

“The board of directors is determined to act responsibly and to uphold all governance requirements,” said Telkom group chief executive officer Sipho Maseko.

“We have a duty to investigate and to test the validity of allegations which are brought to our attention through an appropriate process. We will do this fairly, without favour or prejudice,” he said.

Schindehütte is a chartered accountant and holds a Bachelor of Commerce degree with honours and a higher diploma in taxation.

He served as CFO of the Absa group from October 1999 to 2010 and was the financial director of the group from 2005 to February 2010.

Prior to joining Absa, he was employed by South African state-owned transport firm Transnet in a number of senior roles over more than a decade.

Schindehütte currently serves on the board and audit committee of JD Group.

Meanwhile, the telco has said it has appointed deputy chief financial officer Deon Fredericks as acting CFO to ensure there is continuity in the financial management function.