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:
Chris Baker-Sams - Corporate Finance Manager
+44 (0)752 310 1475
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