Vodacom Group has announced in a statement to shareholders that Sitho Mdlalose has been appointed as its interim chief financial officer.
Mdlalose currently serves as the executive director of finance for Vodacom South Africa, and will take up his new role from 1 July 2020.
Mdlalose has a BCompt qualification and over 20 years experience in the finance, management, and consulting sectors.
He was appointed to the role of executive director of finance for Vodacom South Africa in 2017, having previously been the CFO of Vodacom International Business.
Mdlalose has held a number of senior executive roles at Vodacom and Vodafone since joining the Vodafone Group in 2007 as a senior finance manager.
Vodacom said that the appointment of a permanent chief financial officer is well-advanced and an announcement would be made in due course.
Reason for appointment
Mdlalose will take over from Till Streichert, who announced in November 2019 that he would be leaving Vodacom around the end of June 2020.
This announcement came days after the announcement that CTO Andries Delport would also be leaving Vodacom, with Dejan Kastelic replacing Delport as Vodacom’s new CTO from 1 May.
Streichert was appointed as chief financial officer and an executive director of Vodacom Group in August 2015 after working as the finance director at Vodacom South Africa from February 2014.
He was also appointed as a non-executive director of Vodacom Tanzania, Vodafone Kenya, and Safaricom in August 2017.
Streichert is an industry veteran in the telecoms and financial fields and was awarded the 2017 CFO of the Year award by CFO South Africa.
Vodacom said that Streichert’s resignation is because he plans to “pursue an external opportunity outside of Vodacom.”
CEO Shameel Joosub said Streichert has made a valuable contribution to the Vodacom Group board and as a member of the executive committee.
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