Vodacom hit by another high-profile resignation
SA’s leading telecommunications company Vodacom has surprised many with the announcement that its CFO Till Streichert, a key executive responsible for taking the company public in Tanzania, is leaving, effective June 2020.
This is the second high-profile resignation at Vodacom, which on Tuesday announced CTO Andries Delport is leaving the company in May next year.
Delport will join the Remgro-controlled Community Investment Ventures Holdings.
On Streichert’s departure, Vodacom Group CEO Shameel Joosub says: “Till has made a valuable contribution to the Vodacom Group board and as a member of the executive committee.
“In addition to leading a repositioning of the finance function as a centre of excellence, Till led the IPO [initial public offering] in Tanzania and played pivotal roles in the acquisition of a strategic stake in Safaricom and the completion of the largest ever BEE transaction in the South African telco industry.
“Till has extensive experience in the industry and will be a significant loss to our sector. I wish him well with his decision as he embarks on a new chapter of his career.”
Streichert took over from then CFO Ivan Dittrich, who resigned in 2015 to pursue his own interests.
Streichert joined Vodacom in February 2014, prior to which he had been CFO of Vodafone Romania.
He held a number of senior finance and commercial roles in Romania, which included director of channel marketing, logistics and sales operations, director of financial planning and reporting and finance operations, before he was appointed as CFO in 2011.
He has also served as a strategy consultant at the Boston Consulting Group and started his career working for the CEO of T-Mobile Germany, before undertaking different senior roles at T-Mobile UK. He has a doctorate in philosophy from the University of Hanover, in Germany.
Commenting on his resignation, Streichert, says: “After 12 years at Vodafone and six years with Vodacom, it is a decision that wasn’t taken lightly. I have thoroughly enjoyed my time in South Africa and dealing with a number of challenging situations across the various Vodacom operations in Africa.
“A personal highlight includes the many great moments from the manner in which we have transformed Vodacom from a telco into a technology company with a strong purpose of connecting and improving people’s lives. As I am only leaving around June next year, my first priority is to make sure it is business as usual for the finance function, while at the same time ensuring there is a seamless transition to the next CFO.