Telekom Networks Malawi (TNM)plc chief executive officer (CEO) Douglas Stevenson has stunned the company as he has joined South African telecommunications company, Cell C, as its new Chief Operations Officer (COO).
Cell C announced on Tuesday 26 September 2017 that the company has appointed Stevenson from TNM, where he served as CEO since October 2015.
TNM, with a subscriber base of three million, has since appointed Eric Valentine as acting CEO, according to a statement made available to Nyasa Times, signed by board chairperson George Patridge.
Stevenso, a telecommunications executive with more than 20 years’ experience in the sector, having served in various senior positions across Africa, including South Africa, Malawi, Tanzania and Mozambique is reported to have joined Cell C while his contract with TNM was still running.
But TNM statement said: “The board of directors of Telekom Networks Malawi Plc wishes to inform all stakeholders that Douglas Stevenson is no longer employed as chief executive officier.
“TNM will shortly make an announcement concerning appointment of a substantive chief executie officer.”
Steveson previous positions include Managing Director: Vodacom Business Africa Group, Chief Financial Officer: Business Africa Group/Enterprise Business Partner Vodacom South Africa, Financial Director: Vodacom Mozambique and Commercial Director and Financial Director at Vodacom Tanzania.
According to Cell C, their Stevenson is well versed in planning, execution and negotiation at various organisational levels, with a strong focus on strategic leadership.
“Douglas has played a pivotal role in all the businesses he has worked in before and I am confident his vast experience in this sector will stand him in good stead at Cell C. We are pleased to welcome such a distinguished executive to our ranks,” said Cell C CEO Jose Dos Santos while speaking on the appointment.
“Cell C is an extremely dynamic business and I look forward to putting my skills to work at a company that has been at the forefront of innovation for the past couple of years,” concluded Stevenson.
TNM , the Malawi Stock Exchange (MSE)-listed telecommunications service provider, has invested $150 million (K84 billion) in the past five years which has improved the company’s profitability and increased the subscriber base.Follow and Subscribe Nyasa TV :