MTN Group Ltd., a South African telecom firm, on Friday, announced the appointment of Emir of Kano and former CBN governor, Mallam Sanusi Lamido Sanusi, into its board. The African telecom giant made the announcement in a statement released on Friday in a major board shake-up even as it made significant changes to its board and announced appointment across African markets.
MTN Board said the company has entered a more stable and settled period which enables it to now effect an evolution of the Board following recent challenging regulatory environments and competitive trading conditions.
“MTN Group today announced significant changes to the Group Board and the establishment of an International Advisory Board (IAB).
The MTN Group Board is of the view that MTN has entered a more stable and settled period which enables it to now effect an evolution of the Board following recent challenging regulatory environments and competitive trading conditions.
“MTN Group wishes to announce the following changes to the Board over the next 12 months:
The Chairman of MTN Group, Phuthuma Nhleko, who was anticipated to step down from his position at the AGM to be held on 23 May 2019, will step down from the Board on 15 December 2019 after overseeing an orderly transition of the Board including the establishment of the International Advisory Board.
Mcebisi Jonas has been appointed Chairman-designate and will assume the position of Chairman of MTN Group effective 15 December 2019. Dr Khotso Mokhele will assume the responsibilities of Lead Independent Director with effect from 15 December 2019.
Further, Alan Harper, Jeff Van Rooyen and Koosum Kaylan will step down from the Board on 15 Dec 2019 after an orderly transition and handover to incoming directors. Peter Mageza and Dawn Marole will step down from the Board effective 30 April 2020.
Further to the above, we are pleased to welcome onto the Board His Royal Highness Sanusi Lamido Sanusi and Vincent Rague with effect from 1 July 2019.
“His Royal Highness Sanusi Lamido Sanusi is a Nigerian national, the Emir of Kano and a former Governor of the Central Bank of Nigeria. Vincent Rague is a Kenyan national who worked for the International Finance Corporation for 24 years in a number of senior positions.”
“We are confident that the incoming directors will bring a wealth of experience, diversity of skills and regional experience to the Board.”
MTN Shares rose 1.4% in the aftermath of the announcement.
