Cell C CFO Lerato Pule has resigned from the telecoms operator less than a year after joining, citing the opportunity to take up another position. The company did not provide further details about her departure.
- Cell C has undergone a series of leadership changes in recent months, including the appointment of a new CEO and additions to the board of directors.
- Pule, a qualified chartered accountant, took over as CFO in September 2022, replacing Zaf Mahomed.
- Cell C commended Pule’s leadership in the recapitalization of the business and the completion of historic audits for the years 2018-2020, with the final stages of the 2021 and 2022 audits nearing completion.
- CEO Jorge Mendes, who joined Cell C in June, following the departure of Douglas Craigie Stevenson in March, has been instrumental in making new appointments.
- Mendes appointed Rachael Ayo-Oladejo, a former Vodacom veteran, as Cell C’s new chief of staff, strategy, and business transformation in July.
- It remains to be seen if Mendes will continue to recruit talent from his former employer, Vodacom, to fill positions at Cell C.
- Godfrey Motsa, the former CEO of MTN SA, and Maya Makanjee, the former group chief officer for corporate affairs at Vodacom, recently joined the Cell C board to support the company’s growth and investor confidence.
- Changes to the board of directors often occur as terms end and responsibilities shift, with board appointments made by shareholders.
- Cell C, SA’s fourth-largest mobile network operator, has faced profitability challenges since its establishment in 2001. The company underwent a recapitalization process in September, led by its largest shareholder, Blue Label.
- Stephen Morony, the former head of Cell C’s mobile virtual network business, returned in January to lead its wholesale unit as the company continues to expand operations after the recapitalization.
- In addition, investment banker Brett Copans was hired as the chief restructuring officer, a newly created role, a month prior to the recapitalization.