Douglas Craigie Stevenson has resigned as chief executive officer (CEO) of Cell C, effective 31 March.
Blue Label Telecoms, Cell C’s largest shareholder, announced today that Craigie Stevenson has elected to resign for personal reasons and to pursue other opportunities in line with his personal career goals.
Craigie Stevenson was appointed CEO of Cell C in August 2019, replacing Jose Dos Santos.
He joined Cell C in October 2017, post the Blue Label Telecoms recapitalisation, in the position of chief operating officer.
Joe Mthimunye, chairman of the Cell C board, says: “We thank Douglas for his valued contribution and for successfully assisting in navigating Cell C through the recapitalisation process.
"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. We wish Douglas well in his future endeavours.”
Brett Copans will lead the company as interim CEO and is appointed to the board with immediate effect, says Blue Label.
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, says the firm, adding that before joining Cell C, Copans spent 18 years at Investec Bank and then founded Pentrich Financial Services, a specialist financial services business providing capital raising, advisory and management services to companies.
The Cell C board will initiate a process to appoint a permanent CEO.