Lars Reichelt is leaving the company today, citing personal reasons, says SA's third largest cellular operator, Cell C.
Reichelt was appointed as Cell C's CEO in March 2009, taking over running the company from Jeffrey Hedberg, who left to head Telkom's Multi-Links operations. Hedberg later became Telkom's acting CEO, before leaving the company at the end of March.
Reichelt, who has agreed to stay on with Cell C in an advisory capacity, has 18 years' experience in the wireless industry, leading companies as diverse as Bangalink, Orascom's venture in Dhaka, and Telefonica 3G Mobile, in Zurich, according to his LinkedIN profile.
Cell C says in a media statement that Reichelt indicated he wished to leave the company for personal reasons and “after discussions about the way forward” the board agreed to accept his resignation.
The company has more than seven million subscribers and was the third mobile operator to enter the local market after Vodacom and then MTN. Last year, it started rolling out a HSPA+ 900/2100 network in 13 cities across the country, with aims to hit 97% population coverage by the end of 2011.
Temporary plan
Under Reichelt's leadership, the company grew its market share from 13.4% to more than 14.5%. Reichelt also cut the company's debt.
Duffy adds that the directors wish to thank Reichelt 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”.
Cell C will be “looking to the new CEO to drive and implement the company's strategy in the next phase of its development,” says Duffy.
Reichelt, who was not available to comment, said in the statement: “The Cell C crew has made incredible strides over the past few years and I am very proud to have led that process.”
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