MTN’s CFO Brett Goschen Resigns

MTN's CFO

Brett Goschen, MTN’s CFO has tendered his resignation 14 years after  he joined Africa’s largest mobile carrier by subscriber base.

In a statement issued by MTN earlier today, Gunter Engling, the current chief executive officer of MTN Rwanda will be taking over from him. MTN has also appointed a Nigerian as the CFO for the Nigerian office.

According to MTN’s corporate disclosure, “Brett was appointed MTN Group Chief Financial Officer in 2013. He is a qualified Chartered Accountant, specialising in turning challenging emerging market environments into successes. Brett has been with MTN for more than a decade, first as CFO of MTN Nigeria, then as CEO of MTN Ghana and most recently CEO of MTN Nigeria. Prior to joining MTN in 2002, Brett was the Managing Director of Altech Autopage Cellular.”

MTN is keen at managing its finances to prevent the heavy fines it is paying in Nigeria from crippling its books. Last week, MTN confirmed that it paid another NGN 30 billion as part of its fine to the Nigerian government. MTN has paid NGN80 billion out of its NGN350 billion fine. MTN also said it has paid another NGN18.9 billion for a 10 year license.

Also, MTN has appointed Barclays Africa Group Ltd.’s head of investment banking, Stephen Van Coller, as vice president of strategy and mergers and acquisitions. The shakeup is part of MTN’s approach to rejig its team with fresh insights into managing the company as it navigate a troubling period.

The company has also appointed Rob Shuter, a staff of Vodafone, as its CEO to takeover the leadership of the company from Phuthuma Nhleko, who now heads the company’s negotiation with Nigeria.

 

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