June 27, 2018 / 6:13 AM / a year ago

South Africa's Telkom CFO steps down to take new role

JOHANNESBURG, June 27 (Reuters) - Telkom SA said on Wednesday its Chief Financial Officer will step down at the end of the month to take on the responsibility of Chief Investment Officer to tackle the South African landline provider’s investment strategy.

Deon Fredericks, 57, will be replaced by insider Tsholofelo Molefe on July 1, the company said in a statement.

Molefe joined Telkom in 2016 as Deputy CFO to Fredericks. In 2017 she was appointed to the group executive committee as Chief Risk and Compliance Officer. (Reporting by Nqobile Dludla, editing by Louise Heavens)

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