Vodacom Group denied reports CEO Shameel Joosub (pictured) was heading for the door, but revealed its CFO Till Streichert had become the second C-level executive to resign from the company in as many days.
In a statement, Vodacom labelled a report on CEO Joosub’s departure as “spurious, baseless and untrue”. The original report from Tech Financials stated the executive was to take up a newly created role from stakeholder Vodafone, citing an anonymous source.
Streichert joined Vodadom in early 2014, with the company stating it had already begun seeking a replacement.
Joosub said Streichert’s departure would be a “significant loss” to the telecoms industry, citing “valuable contributions” made to Vodacom, including leading an IPO in Tanzania, “pivotal roles in the acquisition of a strategic stake in Safaricom and the completion of the largest-ever black economic empowerment transaction in the South African telco industry”.
Streichert said he would work to ensure a “seamless transition to the next CFO” during his remaining months.
News of Streichert’s departure came hot on the heels of the resignation of CTO Andries Delport following 23 years with the company. Local reports tipped the executive to take up a role with infrastructure company CIVH, a move which would see him reconnect with former Vodacom CEO Pieter Uys.
Delport will depart in May 2020, Vodacom said.