Blue Label Telecoms announced on Wednesday that it has promoted Douglas Craigie Stevenson to CEO of troubled Cell C.
The JSE-listed firm, Cell C’s largest shareholder, said the appointment of Craigie Stevenson is with immediate effect.
Craigie Stevenson was appointed as interim CEO in March.
“In the past five months Douglas and his team have led the company to improved financial stability, sound business ethics and good governance, better operational performance and has established a path to sustainability,” Kuben Pillay, Chairman of the Cell C Board says.
“His permanent appointment was unanimously approved by the board and we are fully behind his efforts to lead Cell C.”
Meanwhile, Blue Label Telecoms also announced that Cell C has also concluded a detailed
term sheet regarding a national roaming agreement with MTN South Africa.
“This agreement will result in substantial cost-savings for Cell C by reducing network and capex spend through an extensive roaming arrangement,” said Blue Label Telecoms.
“This agreement is mutually beneficial to both parties.”