Jacques Schindehutte, Telkom’s suspended chief financial officer, expects a disciplinary process into his alleged misconduct to wrap up before 2015.

Telkom chief executive Sipho Maseko has been ordered to attend a corporate governance course or face a R1-million fine or criminal prosecution.

The granting of a R6-million loan to the now suspended Telkom executive was supported by both the chairperson and head of its remuneration committee.

A loan extended to the suspended Telkom executive may have been in breach of the Companies Act, but the CFO says he followed the correct procedure.

A R6-million interest-free loan was given to suspended CFO Jacques Schindehutte while he was being probed for misconduct, confirms Telkom.

Before being suspended, Telkom chief financial officer Jacques Schindehütte says he refused an offer that would have allowed him to resign.

Telkom’s share prices have plunged after its CFO, Jacques Schindehutte, was suspended after a probe into undisclosed allegations against him.

Telkom says it has appointed former Absa group financial director Jacques Schindehutte as its new chief financial officer and director.