More Africa News‘Nothing sinister’: Vodacom Group CFO Till Streichert to quit

November 29, 2019by myles

Just two days after the news that Vodacom’s chief technology officer, Andries Delport, is leaving for Remgro-controlled telecommunications provider CIVH, the group has announced the exit of its chief financial officer, Till Streichert.

The development, revealed by Vodacom on Thursday morning on the JSE’s stock exchange news service, is likely to raise questions about the stability of top management at South Africa’s largest telecoms operator.

However, in an internal communique seen by TechCentral, group CEO Shameel Joosub assured his team early on Thursday morning that “contrary to what may be speculated, there is nothing sinister about this and no link to Andries’s announcement”.

On Tuesday, it emerged that Delport had resigned after 23 years with Vodacom. He will serve a six-month notice period before joining CIVH in May 2020.Streichert will step down from the board “on or around 30 June 2020 or such earlier date as may be mutually agreed”, Vodacom said.

Delport joined Vodacom in 1996, making him one of the group’s longest-serving executives. He will join Community Investment Ventures Holdings, or CIVH, the Remgro-controlled parent of Dark Fibre Africa and Vumatel.

He’s not the first Vodacom executive to leave for the Remgro stable. Former Vodacom Group CEO Pieter Uys left Vodacom six years ago to join Remgro.

Source: Tech Central

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