Telkom CEO to be trained

THE Companies and Intellectual Property Commission (CIPC) has requested that Telkom chief executive Sipho Maseko attend a corporate governance course. The commission had ruled that the company had contravened sections of the Company's Act by awarding a R6-million loan to suspended chief financial officer Jacques Schindehütte. The CIPC said the payment of the loan was authorised "prematurely and prior to the board of directors of Telkom passing the necessary precursory financial assistance resolutions". It requested that Telkom update the commissioner of the CIPC on a monthly basis on the progress made in recovering the loan amount from Schindehütte. Telkom said Schindehütte had already repaid the loan. Maseko would make arrangements to attend the training, it said. – BDlive