Debt-ridden mobile operator Cell C today made some appointments to its board.
In a statement this afternoon, the mobile operator announced the appointment of two independent non-executive directors, Sindi Zilwa and Mark Nelson-Smith, who join the board with immediate effect.
Zahir Williams, Cell C’s chief legal officer, also joins the board as company secretary and adviser to the board on corporate governance and to assist members of the board with their duties and responsibilities as directors.
These appointments come a day after Cell C’s majority shareholder Blue Label Telecoms announced the telco had defaulted on its loan repayments to the tune of R2.7 billion.
Cell C says these appointments are in line with its continued commitment to good governance and demonstrates the board’s focus on diversity and transformation.
In October last year, Cell C made some changes to its board, including the appointment of a new chairman and board member representatives from shareholders Blue Label Telecoms and Net1.
The move saw the Levy brothers, Brett and Mark, joint CEOs of Blue Label, quit the Cell C board.
Joe Mthimunye, Cell C board chairman, says: “These appointments are an integral part of Cell C’s journey to improved financial stability, sound business ethics, good governance, better operational performance and sustainability.”
The mobile operator says Zilwa is an exceptionally well-regarded, experienced businesswoman and chartered accountant and chartered director, CD (SA).
It notes the multi-award winning Zilwa was the youngest “Business Woman of the Year” (1998) and a “Woman of Professional Integrity” (2016).
She is a published author of two books The Ace Model – Winning Formula for Audit Committees (2013) and the Board and Committee Effectiveness Model (2016). Her book has been used by the Institute of Directors to train audit committee members in SA, the company says.
It adds that Zilwa has sat on a number of boards, including listed companies, public sector companies, NGOs and across a variety of industries.
Having been previously a chairman of Business Unity South Africa standing committee on transformation and a chairperson of social and ethics committees at various companies, her experience in this regard will be a vital asset to the board’s transformation, Cell C says.
Zilwa holds a CA (SA), BCompt Hons (CTA), Advanced Taxation Certificate, Advanced Diploma in Financial Planning, Advanced Diploma in Banking and is a chartered director.
Cell C also notes Nelson-Smith is a highly experienced, non-executive director with a proven track record in corporate finance.
It explains that he is a seasoned deal-maker, focused on business turnaround, value maximisation and monetisation, strategy and governance.
“Nelson-Smith brings an ability to build consensus between stakeholders, challenge and support management teams and deliver solutions on complex issues,” the operator says.
It adds he has served as chairman of Invitel, one of Hungary’s largest cable and telecoms companies, following its financial restructuring and as a non-executive director of Primacom, at the time Germany’s fourth largest cable company during its operational and financial turnaround.
He spent 14 years working at UBS Investment Bank, 10 of which in the telecoms sector.
Nelson-Smith has an MA in Philosophy and Modern Languages from the University of Oxford and a Diploma in Company Direction from the IoD.
Williams is responsible for legal, regulatory and governance at Cell C.
According to Cell C, he is a seasoned senior legal executive with more than 20 years of multi-jurisdictional corporate law experience, working in fast-paced, highly competitive and complex international business environments.
Most recently, Williams led the legal and regulatory function for Vodacom Business Africa Group for 25 countries on the African continent as well as the UK.
Prior to this, he held key positions at multi-national energy firms BP and Total, leading their Africa legal and governance functions.
In these roles, Cell C says, he developed a strategic approach to governance by balancing interest of boards, shareholders and external stakeholders, including regulators, funders and consumers.
Williams holds a BA LLB in Law from the University of Cape Town.
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