Cell C CEO resigns

Cell C has appointed Lars P Reichelt as the new CEO with immediate effect after Jeffrey Hedberg resigns.

Lars is an experienced executive in mobile telecommunications with an impressive track record in managing mobile businesses, including having been CEO of Banglalink, Orascom’s venture in Dhaka, CEO of Telefonica 3G Mobile in Zurich and Head of Wireless for Yahoo! Europe in London.

Commenting on his appointment, Lars said: "I am delighted to be joining Cell C as CEO at this exciting point in the company’s development. Much has been achieved by the current team, yet the potential for expansion and innovation remains amazing. I look forward to working with all stakeholders in Cell C to drive the company forward and am particularly encouraged by the commitment of the shareholders to this important market."

Jeffrey Hedberg said: "I am proud of what has been achieved in Cell C during my tenure as CEO and would like to thank everyone who has contributed to our progress, especially the management team and staff of the company. I wish Lars every success in his new role.

Hedberg will continue in his role as Chairman of Virgin Mobile South Africa (VMSA). "I will work closely with the VMSA management team during its re-positioning.  I am also currently considering new and challenging roles, within and outside of the Oger Group and look forward to building on the success that I had in South Africa."

Simon Duffy, Chairman of Cell C, said: "Cell C is fortunate in attracting a candidate of Lars’s calibre and it is a great pleasure to welcome him to the company. I would also like to take this opportunity to thank Jeffrey for his strong contribution to the group and for turning around Cell C over the past three years."

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Cell C CEO resigns