CAPE TOWN- Cell C has on Monday announced the appointment of Kuben Pillay and Larry Nestadt to its board.
According to a statement, the appointments follow the recent recapitalisation of Cell C whereby Blue Label Telecoms and Net1 respectively acquired 45% and 15% of the company’s share capital.
“We are honoured to have two of South Africa’s most astute business leaders join the Cell C Board at a time when the company enters a new growth path,” said Jose Dos Santos, Cell C Chief Executive Officer.
“The combined experience and business acumen that Kuben and Larry bring to Cell C will undoubtedly provide sound guidance and support to the business as we begin a new chapter,” added Dos Santos.
Pillay, who has previously served on the boards of several public and private companies, including Primedia, first as CEO and then Chairman and Chairman of the Mineworkers Investment Company (MIC), replaces Mohammed Hariri as non-executive Chairman of Cell C. An attorney by trade, Pillay currently serves on the boards of Transaction Capital Limited and the Outsurance Group of Companies.
“The telecommunications industry is an exceptionally exciting environment, fast-paced and elastic. The Cell C executive team has made incredible strides operationally, despite difficult circumstances and I look forward to supporting them in the future growth of Cell C as its new Chairman,” said Pillay.
Nestadt, a co-founder and former director of Investec Bank Limited will serve as non-executive deputy Chairman on the board of Cell C. He is the chairman of Blue Label Telecoms Limited, Dis-Chem Pharmacies Limited, Universal Partners Limited, Executive chairman of Global Capital Proprietary Limited as well as chairman of the following unlisted companies, Morecorp Group, Melrose Motor Holdings, SellDirect and National Airways Corporation.
“There is little doubt that Cell C has the opportunity to generate a formidable business and having a role in that is exciting. I know I speak on behalf of the board when I say that we are all ready to put our best efforts into ensuring that Cell C meets its potential,” said Nestadt.
- BUSINESS REPORT ONLINE