Barely two weeks after the MTN Group agreed to pay its reduced $5.2bn fine to the Nigerian authorities across three years, the group has named Rob Shuter as its new Chief Executive Officer (CEO) and President. Rob will replace Sifiso Dabengwa, who resigned last November after the Nigerian Communications Commission (NCC) imposed a massive fine on the telecommunications company over a regulatory breach. The newly appointed Executive Head will not resume until 2017.
Rob Shuter, 48, is the current CEO of European cluster at Vodafone Group. According to a statement by MTN, “[they are] 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.”
“Rob, 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 said.
Phuthuma Nhleko assumed the position of the CEO since Sifiso Dabengwa’s resignation in November 2015. Notably, he led the eventual resolve of the crisis that prompted the exit of the former CEO, Dabengwa. Nhleko is expected to revert to his non-executive chairman role “as soon as Rob assumes his new position as soon as is practicably possible.”
MyWealth Investments CEO, Devin Shutte, told BusinessDay Live that part of the advantages Rob’s appointment will bring on board to MTN is strengthened governance and credibility.
Also appointed alongside the new CEO are:
Godfrey Motsa (a former Vodacom executive) will become Vice President for South and East Africa, excluding South Africa.
Paul Hanratty (of Old Mutual) will become a non-Executive Director.
Stan Miller (of Len Blavatnik in London and Capital Group in New York) will become a non-Executive Director.
Nkululeko Sowazi (of Kagiso Tiso Holdings) will also become a non-Executive Director.
A Vice President on Merger & Acquisition and Strategy was also appointed but not named. The name will be disclosed before June 30, 2015.
