Cell C CEO Douglas Stevenson resigns
The CEO of Cell C, Douglas Stevenson, has resigned from his position due to personal reasons and to pursue other opportunities in line with his personal career goals. This was announced by Cell C's board in a letter to the company's shareholders. Stevenson will serve until 31 March 2023.
Cell C CEO Douglas Cragie Stevenson. Image source: Cell C.
Joe Mthimunye, chairman of the Cell C board, says:
“We thank Douglas for his valued contribution and for successfully assisting in navigating Cell C through the recapitalisation 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.”
Brett Copans has been appointed to lead the company as interim CEO and is appointed to the board with immediate effect. Copans joined Cell C in April 2022 and was primarily responsible for ensuring the successful conclusion of the recapitalisation transaction.
He was subsequently appointed as chief restructuring officer. Before joining Cell C, Copans spent 18 years at Investec Bank and then founded Pentrich Financial Services, a specialist financial services business providing capital raising, advisory and management services to companies.
The board of Cell C will initiate a process to appoint a permanent CEO.
