Appointment of Chief Financial Officer
London, 17 December 2020: The Board of Helios Towers plc (“Helios Towers” or “Company”; LSE: HTWS) is pleased to announce the appointment of Manjit Dhillon as Chief Financial Officer (CFO) and to the Board of the Company with effect from 1 January 2021.
Mr Dhillon joined Helios Towers in 2016, and in his role as Head of Investor Relations and Corporate Finance, has overseen transactions including the recent $1bn debt refinancing and the acquisition of over 1,200 towers to enter the new market of Senegal. He also played a key role throughout the successful IPO of Helios Towers on the London Stock Exchange in 2019. He was appointed interim CFO in July 2020 as Tom Greenwood, the then CFO of the Company, took up the position of Chief Operating Officer. Mr Dhillon will continue to have responsibility for corporate finance and investor relations, with specific duties undertaken by colleagues in the finance team. Prior to Helios Towers, Mr Dhillon qualified as a Chartered Accountant with Deloitte and has held a number of positions in the financial services sector, including with Goldman Sachs and Lyceum Capital.
Mr Dhillon’s appointment as CFO concludes a thorough and extensive search process led by Chairman of the Board and Chairman of the Nomination Committee, Sir Sam Jonah, considering a diverse range of internal and external candidates.
Sir Sam Jonah, Chairman, said today:
“I am delighted to be able to announce Manjit’s appointment following a thorough recruitment process. Since 2016, Manjit has proven himself to be a highly capable individual and his appointment, from a large field of candidates, is well deserved. I look forward to welcoming him to the Board.”
Kash Pandya, Chief Executive Officer, added:
“I am delighted that Manjit has been appointed as CFO. We have always taken great pride in recruiting the best talent and then providing them with career pathways to the very top positions within the organisation. His short time as interim CFO has been one of intense development for the business and I look forward to working with him as we take the company forward.”
The Company confirms that the composition and independence of the Board remains in-line with the UK Corporate Governance Code following this announcement.
Interim CFO, Head of IR & Corporate Finance
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Notes and other disclosures
As Chief Financial Officer, Manjit Dhillon’s annual salary will be £350,000 per annum and his pension contribution will be 9% of salary, in line with the workforce. His bonus and LTIP arrangements will be in line with the Directors’ Remuneration Policy. Full details of Mr Dhillon’s remuneration arrangements will be set out in the 2020 Directors' Remuneration Report, which will be published in April 2021.
2. Shareholding information
Manjit Dhillon currently holds 160,825 ordinary shares in Helios Towers plc.
3. Regulatory disclosure
There is no additional information required to be disclosed in respect of Manjit Dhillon pursuant to Listing Rule 9.6.13
About Helios Towers (“HT”)
- Helios Towers is a leading independent telecommunications infrastructure company in Africa, having established one of the continent's most extensive tower portfolios with over 7,200 towers across five countries. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.
- HT owns and operates more sites than any other operator in each of Tanzania, Democratic Republic of Congo (“DRC”), and Congo Brazzaville. It is also a leading operator in Ghana with a strong urban presence and established a presence in South Africa in 2019.
- HT 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.