A board meeting of a key Cell C shareholder scheduled for earlier this month was cancelled in order to probe alleged fraud related to the removal and appointment of company directors, TechCentral has learnt.
Cell C’s board has appointed Douglas Craigie Stevenson as its permanent CEO. Craigie Stevenson had been serving in act acting capacity for the past five months following the resignation of Jose Dos Santos in March.
“We don’t have another chance to do this again. We have to do this right,” interim CEO Douglas Craigie Stevenson said in an interview with TechCentral.
Cell C has begun talks to delay debt payments and hired consultants to probe its business practices and advise on a restructuring.