Following the resignation of the President and Chief Executive Officer, MTN Group over the recent $5.2 billion fine imposed on MTN Nigeria by the Nigerian Communications Commission, the company has appointed the non Executive Chairman of the company, Mr Phuthuma Nhleko as Executive Chairman in a temporary capacity.
Nhleko will act as Executive Chairman for a maximum period of six months within which the company would appoint a successor for Dabengwa.
Part of Dabengwa’s resignation letter read: “Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect.”
Nhleko before now has served as non-executive director and chairman of MTN from July 2001 until June 2002 and thereafter as an executive director, Group president and CEO until March 2011. He has subsequently chaired the group in a non-executive capacity for the past two and a half years (since May 29, 2013).
In his acceptance speech, he said: “I will assume responsibility as Executive Chairman for the next six months as I proactively deal with the Nigerian regulator and will continue to work with them in addressing the issues around unregistered subscribers as a matter of urgency.
“Together with the MTN Board, my second priority will be to find an appropriate Chief Executive Officer to take MTN forward. I will then revert to my non-executive Chairman role,” Nhleko said.
