Brett Copans has been appointed as Cell C’s chief restructuring officer, a newly-created role to safeguard the telco’s critical financial resources.
Cell C announced the appointment today, saying Copans’s role is critical, as he will review all major investment proposals and capital programmes to ensure alignment with the company’s strategy.
Copans assumes his new role a few weeks after the cash-strapped Cell C completed its recapitalisation programme.
The long cash-raising exercise was led by the telco’s largest shareholder, Blue Label Telecoms, which concluded binding agreements with key financial backers in September.
Copans joined Cell C in April and the mobile operator said he was “primarily responsible for ensuring the successful conclusion of the recapitalisation”.
Announcing Copans’s new position today, Cell C CEO 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 techco.
“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 a statement, Cell C said Copans will be a member of the executive committee and report to Craigie Stevenson, and his experience in the financial services sector will benefit the company.
“Brett brings extensive expertise in investment banking, capital-raising, financial restructuring, asset acquisition and disposals in varied industries, including banking, telecommunications and property development.”
The telco said prior to 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 on-going and restructure situations.
Copans is a chartered accountant, with a BCom and BAcc from the University of the Witwatersrand, and also holds a chartered financial analyst qualification from Harvard Business School.
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