Cell C does a local search for a new chief executive

Following the sudden resignation of its chief executive on Wednesday, Cell C said on Thursday that its board had started the process to replace Lars Reichelt and would prefer a local candidate.

“Yes, the board of Cell C has started a process to replace Lars Reichelt. The search will be comprehensive and will cover internal, local and international.

“Ideally the board would like to appoint a CEO from SA. The final decision will be to choose the best person for the job,” a spokesperson for Cell C told I-Net Bridge/BusinessLIVE.

The reasons for the sudden resignation of Reichelt were related to a personal matter and not matters relating to Cell C, a source close to the company told I-Net Bridge/BusinessLIVE on Wednesday.

The source said: “Lars did not wish to say what those reasons were, as they are personal.
The reasons are not related to the company.

“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,” Cell C said.

The group said its board had nominated Simon Duffy, chairperson of the company, to serve as acting CEO until a successor was appointed.

During his two-and-a-half year tenure at the helm of the company, Lars has led the much needed transformation and strategically positioned Cell C for growth.

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 have agreed to be available in an advisory capacity.”

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 CEO to drive and implement the company’s strategy in the next phase of its development.”—I-Net Bridge

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