Cell C, South Africa’s fourth largest mobile operator, said on Thursday CEO Douglas Craigie Stevenson has resigned for personal reasons and to pursue other opportunities aligned with his career goals. The board of Cell C announced this in a letter to the shareholders. Stevenson will serve until March 31, 2023.
Joe Mthimunye, chairman of the Cell C board, said:
“We thank Douglas for his valued contribution and for successfully assisting in navigating Cell C through the recapitalization process. Through the implementation of Cell C’s new strategy, he has directed the company, in conjunction with his management team, to improve financial stability, enhanced operational performance and established a path to sustainability. We wish Douglas well in his future endeavours.”
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Brett Copans has been named to the board as interim director and has been appointed to the executive committee effective immediately. Copans joined Cell C in April 2022 and was instrumental in ensuring the successful completion of the recapitalization transaction.
He was subsequently appointed as chief restructuring officer. Prior to joining Cell C, Copans spent 18 years at Investec Bank, then founded Pentrich Financial Services, a financial services company providing financial services, advice and management to clients.
The board of Cell C will initiate a process to appoint a permanent CEO.
