South Africa’s Vodacom CFO to Step Down

South African mobile operator Vodacom Group said on Thursday its Chief Financial Officer Till Streichert will leave the company in June 2020 to pursue an external opportunity.

The news came in just two days after the company said its Group Chief Technology Officer (CTO) Andries Delport will leave Vodacom in May 2020 to pursue external interests, after 23 years of service.

Streichert was appointed CFO and executive director of Vodacom Group in August 2015 after his tenure as the finance director with Vodacom South Africa in 2014.

He served as the non-executive director of Vodacom Tanzania, Vodafone Kenya and Kenyan mobile operator Safaricom.

During his tenure, he led the IPO in Tanzania and played 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, Vodacom Group Chief Executive Officer Shameel Joosub said in a statement.

“Till has extensive experience in the industry and will be a significant loss to our sector,” Joosub said.

Vodacom will announce a successor for the roles of group CFO and group CTO in due course.

“After 12 years at Vodafone and six years with Vodacom, it is a decision that wasn’t taken lightly. I have thoroughly enjoyed my time in South Africa and dealing with a number of challenging situations across the various Vodacom operations in Africa,” Streichert added.

Streichert said since he is only leaving in June next year, his first priority will be to make sure that “it is business as usual” for the finance function.

(Reporting by Nqobile Dludla, Editing by Sherry Jacob-Phillips)