Months after securing a deal to recapitalise its balance sheet, mobile operator Cell C has announced it has hired a chief restructuring officer.
Brett Copans has been appointed to fill the newly created role at the company.
“The intention of this role is to ensure the prudent and efficient use of resources and funding allocation to high-value opportunities. This is critical to reviewing all major investment proposals and capital programmes to ensure alignment with the company strategy,” Cell C said in a statement.
Copans will be a member of Cell C’s executive committee and will report to CEO Douglas Craigie Stevenson. Copans joined Cell C in April 2022 and was mainly responsible for ensuring the successful conclusion of the recapitalisation, which was led by Cell C’s largest shareholder, Blue Label Telecoms.
In a statement, Craigie Stevenson said: “Moving into a new phase of growth post-recapitalisation, we have identified a number of key strategic projects and high-value opportunities to take Cell C forward and drive our ambitions to transform from a traditional telco to ‘techco’.
“It’s imperative that we apply the necessary skills, oversight and governance principles to evaluating and implementing these initiatives to ensure maximum return on investment. Brett’s experience will be invaluable in this.”
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Before joining Cell C, Copans spent 18 years at Investec before founding Pentrich Financial Services, a specialist financial services business providing capital raising, advisory and management services to companies going through restructuring.
Read: Blue Label says it may seek control of Cell C
“Brett brings extensive expertise in investment banking, capital raising, financial restructuring, asset acquisition and disposals in varied industries including banking, telecommunications and property development,” Cell C said. – © 2022 NewsCentral Media
