Telkom finance chief offloads more shares

Outgoing Telkom chief financial officer Peter Nelson

Outgoing Telkom chief financial officer Peter Nelson has offloaded more of the shares he holds in the JSE-listed telecommunications group, less than two months before he is due to leave its employ.

Telkom announced late on Friday that Nelson had sold nearly 40 000 shares worth more than R1,3m. He sold the shares last Thursday.

The latest sale of shares come just weeks after Nelson sold R1,8m worth of Telkom shares in the open market. That sale came days after he had announced he would be stepping down from the group.

Nelson has now sold more than R3m worth of Telkom shares since announcing he was leaving the group.

Sources say he is leaving Telkom in part because he is frustrated with the way the group is being led by its board of directors under government-appointed chairman Jeff Molobela.

Nelson’s resignation came just days after the early exit of former CEO Reuben September. He will leave the group on 9 October.  — Staff reporter, TechCentral

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