Kuben Pillay is the new chairman of Cell C, while Larry Nestadt will serve as his deputy, the mobile operator said on Monday.
The appointments follow the recapitalisation of Cell C and the purchase by JSE-listed Blue Label Telecoms of a 45% stake in the company for R5.5bn. Net1 UEPS Technologies has acquired a further 15% of the operator’s equity for R2bn.
Pillay, who has previously served on the boards of several public and private companies, including Primedia — first as CEO and then chairman — and served as chairman of the Mineworkers Investment Company, replaces Mohammed Hariri as non-executive chair.
An attorney by trade, Pillay currently serves on the boards of Transaction Capital and Outsurance.
Nestadt, meanwhile, also chairs the Blue Label Telecoms board. He is a co-founder and former director of Investec Bank and will serve as Cell C’s non-executive deputy chairman.
Other responsibities Nestadt holds include nonexecutive chairmanship of the Dis-Chem Pharmacies and Universal Partners boards and executive chairmanship of Global Capital.
“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,” Nestadt said in a statement.
“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,” said Cell C CEO Jose Dos Santos. — (c) 2017 NewsCentral Media
