Jose Dos Santos will relinquish his position as the Chief Executive Officer of Cell C, the country’s third largest mobile phone operator.
His resignation is effective 1 March 2019.
Cell C said Dos Santos will take up a role as a consultant offering strategic advice to the chairman of the Cell C board.
In this role, he will be involved in the delivery of Cell C’s strategic intent, which includes the reshaping of Cell C’s debt to ensure the company’s continued sustainability.
“We would like to thank Jose for his tireless work over the past six years, of which five of those have been at the helm of this company. He has successfully led Cell C through some of its toughest times, and spearheaded the recapitalisation of the business. He has been a passionate and visionary leader and we know that he will apply the same vigour in his new role,” says Cell C Chairman Kuben Pillay.
An interim CEO will be announced shortly, until such time as a permanent appointment is announced.
“Cell C has a very experienced leadership team that will continue to execute on the company’s business plan. On behalf of the Board, management and staff, we wish Jose great success in his new role and thank him for his time as CEO,” says Pillay.
Last August, the staff at Cell C were very unhappy after they were told by their boss that they would not get any bonuses this year because the mobile phone operator had not met its EBITDA 2017 targets.
A letter to the staff written by Cell C CEO Jose Dos Santos – himself a recipient of part of the R219 million windfall paid to three executives – states that workers will not be paid any bonuses or short-term incentive programme (STIP) this year.
Dos Santos wrote: “As you will be aware, April is usually the time of the year that we issue bonuses to staff based on company performance.
“2017 was a tough year for the business, with many challenges and changes from a recapitalisation point of view.