Exclusive: Cell C CFO Lerato Pule resigns

Johannesburg, 15 Aug 2023
Lerato Pule resigns as Cell C CFO.
Lerato Pule resigns as Cell C CFO.

Cell C chief financial officer Lerato Pule has resigned. ITWeb was informed that Pule tendered her resignation on Monday, according to a reliable source.

Pule joined Cell C as executive director of financial planning, analysis and reporting in February 2022. She then succeeded Zaf Mahomed as CFO of the telecoms company in September.

She will be departing Cell C in the coming months, according to a confirmation from the mobile operator.

In a statement sent to ITWeb, Cell C states: “Over the next few months, Lerato will continue to deliver on critical financial matters.

“She has demonstrated extraordinary leadership by facilitating the completion of the recapitalisation and initiating the completion of three years' worth of historic audits (2018-2020) and the signing off of the financials.

“The board extends its deepest gratitude to Lerato for her extraordinary contributions to Cell C during her tenure there.”

According to Cell C, the final stages of the historic audit for 2021 and 2022 will be concluded shortly to ensure the on-time delivery of the complete annual financial statements for these years.

The company says it will shortly initiate the succession planning process.

“Her influence extended beyond traditional financial reporting, as she has played a crucial role in building a strong finance team and advancing our finance function into the realm of analytics.”

Prior to joining Cell C, Pule was CFO of Telkom's SME segment.

Pule is a chartered accountant with a Bachelor of Commerce in Accounting and over 16 years’ experience in financial and business management at an operational and strategic level in a variety of organisations.

She leaves Cell C at a crucial moment, as the telco struggles to be profitable and fend off increasing competition. In September, the debt-laden mobile operator secured funding to recapitalise the business, but is still behind its peers Vodacom, MTN and Telkom on key metrics.

The long-awaited Cell C recapitalisation was closed after its lenders accepted an offer of 20c for every R1 of debt. According to Blue Label Telecoms, Cell C was valued at R3.1 billion at the time.