MTN Group makes board changes and establishes international advisory board
Mcebisi Jonas is chairman-designate of the newly constituted board, and Thabo Mbeki will chair the IAB.
According to a statement released by MTN, the group has “entered a more stable and settled period, which enables it to now effect an evolution of the board following recent challenging regulatory environments and competitive trading conditions”.
The changes include chairman Phuthuma Nhleko stepping down on 15 December after overseeing an orderly transition of the board.
The group has appointed Mcebisi Jonas as chairman-designate, who will assume the position of chairman when Phuthuma steps down.
Khotso Mokhele will assume the responsibilities of lead independent director, and Alan Harper, Jeff Van Rooyen and Koosum Kaylan will step down from the board with effect from 15 December. Peter Mageza and Dawn Marole will also step down from the board with effect from 30 April 2020.
MTN will also be welcoming His Royal Highness Sanusi Lamido Sanusi and Vincent Rague onto the board with effect from 1 July.
The statement said:
“We are confident that the incoming directors will bring a wealth of experience, diversity of skills and regional experience to the board.”
The board is also planning to establish an International Advisory Boards (IAB), overseen by Phuthuma, with the primary purpose of counselling, guiding and supporting the MTN Group from time to time in fulfilling its vision and objective of being one of the premier African corporations with a global footprint in telecommunications, contributing to increased digital inclusion in Africa and the Middle East, “a pivotal aspect of the fourth industrial revolution”.
The IAB will be non-statutory in nature and won’t have any fiduciary responsibility. It will commence on 1 July and will be chaired by former president Thabo Mbeki. It will be constituted of former president of Ghana John Kufuor, former director general of the International Atomic Energy Agency Mohammed el Baradei, president of marketing and services Total SA (France) Momar Nguer, and Phuthuma.
MTN Group CFO Ralph Mupita commented on the changes, saying:
“The board evolution and establishment of the international advisory board are changes that will be positive for the company as we build our business into the leading digital operator in Africa and the Middle East.”