Cell C’s board of directors announced today that former CEO Lars Reichelt will be stepping down as of immediate effect from today. Reichelt has said that he is leaving due to personal reasons therefore the board accepted his resignation.
Lars has traded between South Africa and Switzerland where his family resides. The former CEO has also mentioned that he will still be giving advice to Cell C while Simon Duffy has been appointed as CEO until a replacement has been found. Lars has built the company in a manner that growth is projected.