BREAKING NEWS, Business
–
MTN, South Africa-based Telecoms giant on Monday, June 20, named Rob Shuter, as the new chief executive officer of the company after resolving a dispute with Nigeria over a huge fine for failing to disconnect millions of unregistered mobile phone lines. MTN announced that Shuter, a South African who is currently the Vodafone Europe CEO, will take over as its new group president and CEO next year.
Africa’s biggest wireless operator, MTN said in a statement that “following the successful resolution of the Nigerian dispute, it has completed the review of its governance and management structures.”
The Johannesburg-based company was last year hit with a $3.9 billion fine for failing to cut off 5.1 million unregistered SIM cards, amid fears that some of the affected lines were being used by Boko Haram insurgents. The conflict sparked by the Islamic extremist group has left at least 17,000 dead and forced more than 2.6 million people from their homes since 2009.
On June 10 MTN announced that following negotiations with the Nigerian authorities, it had agreed to pay $1.7 billion as a final settlement. Shuter will take over from Phuthuma Nhleko, executive chairman, who stepped in last November in the thick of the Nigerian fine debacle.
“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 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,” said Nhleko. The outgoing CEO will revert to his post as non-executive chairman when Shuter takes over. – Vanguard
— Jun 20, 2016 @ 17:20 GMT
|
Tags:
