Cell C CEO Lars Reichelt is stepping down with immediate effect. The company’s board announced on Wednesday that Reichelt will be leaving the company.

“Lars has indicated his wish to resign for personal reasons and, after discussions about the way forward, the board has agreed to accept his resignation,” the operator says in a statement.

Speaking to TechCentral moments after the announcement of his resignation, Reichelt said his decision to leave “saddens me immensely”. “I love this country and and love this crew.”

But he says the “fundamental premise” of bringing affordable Internet access to the entire country’s population and “driving competition and innovation” in the sector remains the company’s strategic priority.

In his time at Cell C, Reichelt has commuted extensively between SA and Switzerland, where his family lives. Reichelt says he will stay on for a period of time to act in an advisory role.

The Cell C board has nominated Simon Duffy, chairman of the company, to serve as acting CEO until a successor is appointed.

Reichelt joined Cell C two-and-a-half years ago. “During his two and a half year tenure at the helm of the company, Lars has led the much needed transformation and has strategically positioned Cell C for future growth,” Cell C says.

Under Reichelt’s leadership, Cell C has built a mobile broadband network, reinvigorated the company’s brand and slashed mobile data prices.

Says Duffy: “The directors and I wish to thank Lars 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. We wish him success for the future and will be looking to the new CEO to drive and implement the company’s strategy in the next phase of its development.”

Says Reichelt: “The Cell C crew has made incredible strides over the past few years and I am very proud to have led that process. I am confident the company, supported by its strong management team, is well-positioned for continued growth, and have agreed to be available in an advisory capacity.” — Staff reporter, TechCentral