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Telkom has appointed Tsholofelo Molefe as the group’s CFO. (Photo: Archive, Gallo Images)
Telkom announced on Friday that its 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 position of CFO two years later, a position she held for 2 years.
The group said that Molefe, during her time as CFO, removed risk from the balance sheet, optimized working capital management through structural changes, and improved the capital allocation framework to focus on ROI,
Openserve CFO Dirk Reyneke will take over as Acting Group CFO from 7 December. Reyneke was CFO of Telkom Mobile and Gyro, Telkom’s property and tower business. He also led the BCX and Telkom Enterprise integration process.
The group said it will appoint a permanent CFO at the end of a comprehensive process and wished Molefe the best in his future endeavors.
The telecom provider recently disclosed a ‘mixed bag’ of financial results a month ago, as revenue fell 0.4% during the six months ending September 30, despite an increase in data revenue during the coronavirus lockdown.
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