Staying true to its promise to choose a new group CEO before the end of Q2 2016, MTN Group Limited has appointed Rob Shuter as its new CEO for the group.
It could be recalled that Phuthuma Nhleko, Chief Executive Chairman of MTN Group, confirmed to analysts at the company’s Q1 2016 earnings call to analysts that “the intention is to advise the investors of the new group CEO before the end of Q2. We are still on track with that.”
Rob Shuter is a South African who currently works for Vodafone Group, MTN’s bigger rival in South Africa. His appointment is following the eventual resolution of the company’s dispute with the Nigerian government.
Rob Shuter will be taking over the role, a position that has been vacant but supervised by Phuthuma Nhleko. He has been in charge in the aftermath of the mega fine handed to the company by the Nigerian government over MTN’s lateness to deactivate 5 million lines in its Nigerian market.
In a statement released by MTN Group, “Rob may commence as soon as it is practically possible in 2017 but not later than 1 July 2017 after the completion of his current contractual obligations. Rob, a South African national, is the current CEO of the European Cluster at Vodafone Group and has extensive experience in telecoms and banking having held senior management roles at Vodacom Group, Standard Bank and Nedbank prior to joining Vodafone Group. MTN is confident that Rob will bring experience and new insights to the CEO role having had many years in the telecoms sector both in Africa and Europe as well as in banking where his expertise will help as MTN continues to develop its new business strategy”
Coommeting on the development, Phuthuma Nhleko, Chief Executive Chairman of MTN Group, said “MTN has weathered a rather difficult storm and will continue to review its governance and management operating structure to ensure that it operates at an optimum level and continues to replenish management talent to ensure a sustained growth of the business.”
MTN agreed to pay USD1.67 billion to the Nigerian government in the next three years and possibly list on the Nigerian Stock Exchange, NSE.
MTN started operations in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.” As of 30 April 2016, MTN recorded 230.3 million subscribers across its countries of presence.
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