MTN names new Group President & CEO
The MTN Group Board said in a statement this week that following the successful resolution of the Nigerian dispute, it had completed the review of its governance and management structures in accordance with its undertaking to do so. The appointment of new executives and the expansion of the roles of others, together with the appointment of additional non-executive directors, were expected to achieve the objective of strengthening management, enhancing governance and aiding strategy in the Group.
MTN said it had conducted an extensive global search for a candidate suited to the demands of the Group’s future strategy, and resolved to appoint Rob Shuter as the new Group President and CEO. He will 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.
Shuter, 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.
Phuthuma Nhleko, who assumed the position of Executive Chairman on 9 November 2015 to resolve the very difficult challenges that the company experienced at the time, will revert to his role as non-executive Chairman as soon as Shuter assumes his new position. Until then, in order to facilitate a smooth transition MTN Group CFO, Brett Goschen, and the new VP M&A and Strategy, will assume clearly defined additional responsibilities under the guidance of the Executive Chairman. Nhleko remains fully committed to the MTN Group and will continue to provide the necessary leadership as non-executive chairman for the next two and a half years when he plans to step down as Chairman.
He 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. I warmly welcome Rob Shuter, the new VP M&A and Strategy, Godfrey Motsa and all the new non-executive directors to MTN Group and MTN South Africa. I am confident that with the calibre of Rob Shuter as CEO, the group will resume its path to playing its rightful role in increasing connectivity and accelerating convergence across Africa and the Middle East.”
MTN has also announced that a new VP M&A and Strategy would be appointed with effect from 1 October 2016. His name will be announced before 30 June 2016.
To enhance the governance and depth of experience of the business operations, Godfrey Motsa has been appointed by the countries in the SEA Region (excluding South Africa) to oversee the operations in those regions with effect from 1 July 2016. He joins from Vodacom where he was Chief Officer for Consumer Business. He was previously CEO of Vodacom DRC Congo and CEO of Vodacom Lesotho. He brings 10 years of experience of telecoms in the region to MTN. He has various other commercial experience.
The company also announced the following new board appointments:
Paul Hanratty - a veteran of Old Mutual and Chairman of the Emerging Markets Board. He has extensive M&A experience in multiple countries, including four insurance acquisitions in Sub Saharan Africa.
Stan Miller - currently working with Len Blavatnik in London and Capital Group in New York, he is also an executive Chairman for MTS.
Nkululeko (“Nkunku”) Sowazi - Chairperson of Kagiso Tiso Holdings Proprietary Limited, a leading black-owned investment company with in excess of R15 billion in assets and a net asset value of R10 billion.
MTN also announced the appointment to the board of MTN South Africa, Mike Harper, Lerato Phalatse, Mike Bosman and Trudy Makhaya.