Cell C, a South African telecommunications firm, has announced that Kuben Pillay and Larry Nestadt have been appointed as members of the companies board.
The appointments of Pillay and Nestadt come after the company’s recent recapitalisation which saw Blue Label Telecoms and Net1 respectively acquire 45 percent and 15 percent of Cell C’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 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.
Speaking on his new position Pillay said that: “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.”
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,” concluded Nestadt.