Cell C CEO Jose dos Santos. Picture: PUXLEY MAKGATHO
Cell C CEO Jose dos Santos. Picture: PUXLEY MAKGATHO

Cell C CEO Jose Dos Santos will step down on March 1, its 45%-owner Blue Label Telecoms said in a statement on Friday.

Blue Label Telecoms is scheduled to release its interim results on February 28, and Cell C usually releases its results a few days before its parent company.

An interim CEO for Cell C will be announced shortly, Friday's statement said.

“The board of Blue Label would like to thank Jose for his tireless work over the past six years leading Cell C through the recapitalisation of the business and design of its new strategic direction,” Blue Label said.

Dos Santos will take on a new role as consultant to Cell C chair Kuben Pillay.

Blue Label's share price rose as much as 5.5% to R5.54 on Friday.

Image: Iress

Blue Label acquired 45% of Cell C for R5.5bn while Net1 UEPS Technologies acquired 15% as part of SA's third cellphone network's recapitalisation in August 2017.

laingr@businesslive.co.za