MTN Group, Africa’s largest telecoms company in terms of subscribers has announced the appointment of Rob Shuter as its new Group President & Chief Executive Officer.
Shuter, who has experience in banking telecoms is currently the CEO of the Vodafone Group’s Europe cluster will join MTN in 2017.
His appointment comes after MTN’s former CEO Sifiso Dabengwa resigned in November 2015 following the mimposition of a $5.2 billion fine on the telecoms giant by the Nigerian Communications Commission.
Since then Phuthuma Nhleko, MTN’s non-executive chairman has been steering the ship but he will return to his old role as soon as Shuter takes over.
Other appointments include Paul Hanratty, Stan Miller, and Nkululeko Sowazi as non-executive directors; Godfrey Motsa a former Vodacom executive who will head MTN operations in Southern and East Africa, and the appointment of a yet to be named new vice president for mergers and acquisitions and Strategy.
The appointment of an M & A lead is an interesting nod to the direction that MTN intends to take regarding growth.
Regarding its fine which started the management shakeup, MTN has agreed to pay $1,7bn and it has also agreed to list its MTN Nigeria in Lagos.