Cell C CEO Douglas Craigie Stevenson resigns

Cell C CEO Douglas Craigie Stevenson has resigned and will step down effective 31 March 2023. Brett Copans will take over while the company searches for a new chief executive.

“Douglas has elected to resign for personal reasons and to pursue other opportunities in line with his personal career goals,” Blue Label said in a SENS statement.

“We thank Douglas for his valued contribution and for successfully assisting in navigating Cell C through the recapitalisation process,” Cell C chairman Joe Mthimunye said.

“Through the implementation of Cell C’s new strategy, he has directed the company to improved financial stability, enhanced operational performance and established a path to sustainability.”

Craigie Stevenson was appointed as Cell C CEO in August 2019 after serving as interim CEO for six months.

He joined Cell C in October 2017, post the first Blue Label recapitalisation, in the position of chief operating officer.

He was responsible for the critical operational divisions of the business, including property and procurement, technical operations, and regional retail operations.

Prior to joining Cell C, Craigie Stevenson was chief executive officer of Telekom Networks Malawi, where he was instrumental in the launch of its 4.5G network.

Copans has been appointed to lead the mobile operator as interim CEO and was appointed to the board.

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 founded Pentrich Financial Services, a specialist financial services business.

The board of Cell C will initiate a process to appoint a permanent CEO.