Cell C head quits

2011-07-13 14:24

The chief executive of the Cell C Lars Reichelt left the country’s third largest cellphone network operator today with immediate effect.

“The board of Cell C announces that Lars P Reichelt, CEO, will be leaving the company today,” read a media statement from Cell C.

“Lars has indicated his wish to resign for personal reasons and, after discussions about the way forward, the board has agreed to accept his resignation,” it says.

The board has nominated Cell C chairperson Simon Duffy as an acting chief executive until Reichelt’s replacement is found.

Reichelt leaves the company with a healthy bank balance and the revenue in 2010 rose to R9.9 billion from 2008’s R8.6 billion.

Total active subscribers rose to 6.9 million in 2009, pushing its market share to 14.5% from 13.4% in the previous year.

He also rebranded Cell C colours from red and white to black and white, and roped in popular comedian Trevor Noah to be the face and voice of the firm.

“During his two-and-a-half year tenure at the helm of the company, Reichelt has led the much needed transformation and has strategically positioned Cell C for future growth,” says the statement.

Duffy said: “The directors and I wish to thank Lars for his contribution to the restructuring of the company and for his strategic input and leadership in moving Cell C to the forefront of the mobile broadband market.”

“We wish him success for the future and will be looking to the new chief executive to drive and implement the company’s strategy in the next phase of its development.”

Reichelt said: “The Cell C crew has made incredible strides over the past few years and I am very proud to have led that process.”

“I am confident the company, supported by its strong management team, is well-positioned for continued growth, and I have agreed to be available in an advisory capacity,” says Reichelt.

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