TIDMHTWS
RNS Number : 0892J
Helios Towers PLC
18 August 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Helios Towers Announces CEO Transition
London, 18 August 2021: Helios Towers plc ("Helios Towers", the
"Group", the "Company"), the independent telecommunications
infrastructure company, today announces that Kash Pandya has
informed the Board of his decision to retire as Chief Executive
Officer with effect from the Company's AGM in April 2022. Effective
upon his retirement and at the Board's request, Kash will move into
a new role as non-executive Deputy Chairman of the Company. In an
orderly transition, the Board is also pleased to announce that Tom
Greenwood, currently Chief Operating Officer, has been appointed
CEO-Designate with immediate effect. Tom will formally take up the
Chief Executive Officer role from Kash following the AGM in April
2022.
During his tenure as CEO, Kash has led Helios Towers through a
successful listing on the London Stock Exchange, multiple financing
transactions across the equity, equity linked and debt capital
markets, and overseen the Company's expansion from four markets to
eleven, including recent acquisition agreements that are subject to
completion, making Helios Towers the most diversified tower company
operating in the Africa and Middle East region. In addition to the
Deputy Chairman role, Kash will also pursue other non-executive
opportunities.
Tom Greenwood joined Helios Towers in 2010. He became Chief
Financial Officer in 2015, where he led the Group's journey from
private to public, first through the issue of debt onto the public
markets in 2017, and later, the Group's IPO on the London Stock
Exchange in 2019.
Since becoming COO in 2020, Tom has overseen a period of
significant growth, including the recent acquisitions in six new
markets, as well as taking responsibility for many of the CEO's
previous direct reports. Tom's transition to COO leaves him well
positioned to succeed Kash as CEO and his appointment as
CEO-designate follows a succession planning process overseen by the
Board. This included an external benchmarking exercise and review
of Helios Towers' peer set and the broader market, led by the
Nomination Committee.
Sir Sam Jonah, Chairman of Helios Towers, commented:
"Kash's tenure as CEO has been one of significant development
and value creation for all stakeholders. He built on the company's
early success by creating a compelling growth strategy combining
strong leadership, processes and operating disciplines with a
strong focus on our customers' needs and the welfare of our
colleagues. The uptimes now achieved by the Group are outstanding,
bringing resilient mobile telecoms infrastructure to some of
Africa's most exciting and challenging markets. More recently, a
series of carefully planned and executed acquisitions has seen the
company broaden its footprint towards new geographies and markets,
leveraging the opportunities a listing on the LSE can bring.
We have been very fortunate to benefit from Kash's leadership
and experience over the last 6 years and we are extremely pleased
that Kash will be continuing on the Board in a non-executive
capacity. We wish Kash well as he pursues new career challenges in
the wider non-executive sphere.
I am also delighted that Tom Greenwood will succeed Kash as CEO.
Tom's contribution and leadership has been exemplary. Tom's move to
COO from CFO made him a very obvious choice as CEO following Kash's
decision to retire. The decision to appoint Tom follows a
succession planning process that began with his move to COO.
It's also particularly pleasing that our record of promoting
from within has now reached the very pinnacle of our business."
Tom Greenwood, COO and CEO-designate of Helios Towers
commented:
"I am absolutely delighted to be stepping into the CEO role at
Helios Towers. We have all learned an enormous amount from Kash
over the past 6 years and I look forward to taking over the reins
as we complete and integrate the recently announced acquisitions
and continue on our growth journey. Both as COO and CFO, I have had
the privilege of working with a very talented and resilient team in
some of the world's most exciting growth markets. There is much
more to go for in the coming years and I look forward to working
with the Board and my highly committed and skilled colleagues in
taking the business forward."
Kash Pandya, CEO of Helios Towers, commented:
"It has been an honour to lead Helios Towers over the last 6
years and to help shepherd it through its transformation into a
public company and establishing its presence across Africa and the
Middle East. We have grown a tremendous amount over my tenure and I
want to thank each and every one of my colleagues for helping to
make this possible. I know that there is a bright future ahead for
Helios Towers, and following my term as CEO I look forward to
continuing to work with the Board in my role as non-executive
Deputy Chairman and supporting the management team as they pursue
this new chapter."
For further information, please contact:
Investor Relations
Chris Baker-Sams - Corporate Finance Manager
+44 (0)752 310 1475
investorrelations@heliostowers.com
Media relations
Edward Bridges / Stephanie Ellis - FTI Consulting LLP
+44 (0)20 3727 1000
For the purposes of MAR, the person responsible for making this
announcement is Paul Barrett, General Counsel and Company
Secretary.
Notes to Editors
Tom Greenwood's remuneration package on appointment as Chief
Executive Officer will be in line with the Company's Remuneration
Policy and will be disclosed in the 2022 Directors Remuneration
Report. Details of Kash Pandya's remuneration arrangements on
retirement as CEO will also be disclosed in due course.
About Helios Towers
Helios Towers is a leading independent telecommunications
infrastructure company, having established one of the most
extensive tower portfolios across Africa. It builds, owns and
operates telecom passive infrastructure, providing services to
mobile network operators.
Helios Towers owns and operates telecommunication tower sites in
Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana,
South Africa and Senegal. Following recent acquisition agreements
and subject to regulatory approvals, Helios Towers expects to
establish a presence in five new markets across Africa and the
Middle East over the next 12 months. Including these acquisitions
and BTS site commitments, the Group's total site count is expected
to increase from over 8,500 towers currently to approaching
15,000.
Helios Towers pioneered the model in Africa of buying towers
that were held by single operators and providing services utilising
the tower infrastructure to the seller and other operators. This
allows wireless operators to outsource non-core tower-related
activities, enabling them to focus their capital and managerial
resources on providing higher quality services more
cost-effectively.
For further information go to: www.heliostowers.com
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