MTN Group President and Chief Executive
Officer, Sifiso Dabengwa, resigned on Monday morning over the N1.04tn
fine imposed on MTN Nigeria by the country’s regulatory body – the
Nigerian Communications Commission.
According to source at the MTN Group
office, the company has subsequently appointed
Phuthuma Nhleko as Executive Chairman in a temporary capacity.
He
said Nhleko, the current Non-executive Chairman, has agreed to.....
act as
Executive Chairman for a maximum period of six months while the company
identifies a successor for Dabengwa.
A copy of Dabengwa’s resignation letter was made available to our correspondent.
It read in parts, “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.”
Officials at MTN said Nhleko was no
stranger to the business as he 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).
“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,”
Nhleko said in his acceptance letter.
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