South African fixed line operator Telkom says the suspension of its chief financial officer, Jacques Schindehütte, relates to allegations of personal misconduct levelled against him.

According to a statement from the telco, the allegations came to the board's attention through a “whistleblower”.

The South African telco has explained that Schindehütte's suspension is not related to the purchase of shares made by the CFO on 30 September 2013, as previously speculated.

Earlier this week the telco announced that it had suspended its CFO, pending a disciplinary hearing. At the time the operator refused to reveal the nature of the allegations and has of yet to explain the nature of alleged misconduct.

Telkom said its board initiated a process which included an investigation, using the services of an external law firm after it was made aware of certain allegations against Schindehütte.

As part of the process, Schindehütte was given an opportunity to respond to the allegations. The findings of the external law firm as well as its recommendations were presented to the board and these were carefully considered.

The decision to suspend Schindehütte was taken after obtaining legal advice, reveals a statement.

Schindehütte's previous posts include serving as CFO of the Absa group from October 1999 to 2010 and 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.