Douglas Craigie Stevenson has resigned as CEO of Cell C, effective 31 March 2023.
Blue Label Telecoms, a major publicly-traded stakeholder in Cell C, informed shareholders of Craigie Stevenson’s resignation via the JSE news service.
“Douglas has elected to resign for personal reasons and to pursue other opportunities in line with his personal career goals,” Blue Label stated.
“We thank Douglas for his valued contribution and for successfully assisting in navigating Cell C through the recapitalisation process,” said Cell C board chairman Joe Mthimunye.
“Through the implementation of Cell C’s new strategy, he has directed the company, in conjunction with his management team, to improved financial stability, enhanced operational performance and established a path to sustainability.”
Brett Copans has been appointed interim CEO. He is also 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 before founding Pentrich Financial Services, a specialist financial services business providing companies with capital raising, advisory and management services.
Cell C’s board said it would begin a process to appoint a permanent CEO.
