Mobile operator Cell C has appointed Brett Copans to the newly-created position of chief restructuring officer.
In a statement, the group said his role will be to ensure the prudent and efficient use of resources and funding allocation to high-value opportunities.
It said this was critical to reviewing all major investment proposals and capital programmes to ensure alignment with company strategy.
Cell C chief executive Douglas Craigie Stevenson said: “Moving into a new phase of growth post recapitalisation we have identified a number of key strategic projects and high-value opportunities to take Cell C forward and drive our ambitions to transform from a traditional telco to techno.
"It’s imperative that we apply the necessary skills, oversight and governance principles to evaluating and implementing these initiatives to ensure maximum return on investment. Brett’s experience will be invaluable in this."
In 2019, Cell C embarked on a turnaround strategy, focusing on operational efficiencies, reducing operational expenditure and optimising traffic.
At the time, the group said the recapitalisation of the current debt structure would result in a significant improvement of liquidity and ensure the long-term sustainability of Cell C. The recapitalisation was finalised this year in September.
According to the company, Copans will be a member of the executive committee and report to Stevenson.
"He joined Cell C in April 2022 and was primarily responsible for ensuring the successful conclusion of the recapitalisation," the group said.
Before joining Cell C, Copans spent 18 years at Investec Bank and then founded Pentrich Financial Services, a specialist financial services business providing capital raising, advisory and management services to companies in ongoing and restructuring situations, Cell C said.
"Brett brings extensive expertise in investment banking, capital raising, financial restructuring, asset acquisition and disposals in varied industries, including banking, telecommunications, and property development.
He is a chartered accountant (CA) with a BCom and BAcc from the University of the Witwatersrand, CFA qualification, and Leadership Development (PLD) from Harvard Business School," the group said.
BUSINESS REPORT