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Vodacom CEO to step down

Jul 05 2012 08:54 Reuters

Company Data

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 127.10
Change 1.59
% Change 0.01
Cumulative volume 499619
Market cap 189.12bn

Last Updated: 28/07/2014 at 03:43. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Vodacom Group [JSE:VOD] said on Thursday chief executive Pieter Uys would leave the company in March next year and be replaced by Shameel Joosub.

Joosub is currently the chief executive of Vodafone Spain and his appointment would take effect from September 1 this year to ensure a smooth transition, the company said.

Uys, who has served as Vodacom’s CEO for four years, joined the company almost 20 years ago.

“It’s now time for change and I will leave Vodacom confident that the business will prosper under Shameel’s leadership,” Uys said in a statement.

Joosub had previously worked as managing director of Vodacom South Africa and as a director from 2000 to 2010 before transferring to Vodafone Spain.

Vodacom, the biggest mobile operator in South Africa, also said in June that the managing director of its South African operations had stepped down.

Vodacom shares were little changed at the start of trade on Thursday as investors took in their stride news the mobile operator’s chief executive will step down next year.

Shares were little changed at R96.09 at 07:08 GMT.

 
vodacom group  |  pieter uys  |  shameel joosub
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