Outgoing MTN CEO Rob Shuter to join BT Group
Rob will be taking over from Gerry McQuade as BT Group's enterprise unit CEO in March 2021.
Outgoing MTN Group president and CEO Rob Shuter will be joining British telecommunications company BT Group as CEO of the company’s enterprise unit. He plans to leave MTN in March 2021.
Speaking in March, when he announced his plans to leave MTN, Rob said that:
“I’ve loved my time here. It’s been the greatest privilege of my working career, but it’s been enormously challenging. We are on the road for more than half the month. I get home from Nigeria and the dogs bark at me.”
Rob joined MTN in 2017 and has worked closely with the group’s CFO and 2019 CFO of the Year Award winner Ralph Mupita.
Before joining MTN he was in charge of some of Vodafone’s European operations and has also served as CFO of Vodacom in South Africa.
About Rob’s appointment, BT Group CEO Philip Jansen said:
“I’m delighted to welcome Rob to BT. He brings a wealth of international telecommunications experience and has a track record of driving innovation in business and consumer markets. This will make him ideally suited to drive forward the support we provide to UK businesses and public sector organisations. The UK’s economic recovery will depend on their success and BT wants to play a key part in supporting these critical parts of the economy.”
Rob will be taking over from Gerry McQuade, who is retiring after more than a decade with the group.
In a statement, MTN said that the succession process for the CEO role is on track and that it expects to make an announcement in this regard in the next four to eight weeks.
The company also released its trading statement for the six months ended June 2020, saying that it expects headline earnings per share to grow between 115 percent and 125 percent, as well as earnings per share to grow between 160 percent and 170 percent.
It also said that it has made meaningful progress in strengthening its financial position and maintaining a healthy liquidity position. “In order to sustain this, and in line with MTN’s capital allocation framework, the board has decided not to declare a 2020 interim dividend in the context of the Covid-19 impacts and the material uncertainties these present.”
It added that, should conditions warrant a final dividend, this would be no more than 390 cents per share, aligned to the current dividend policy. “The key factors to consider will include the general macroeconomic environment, the status of cash upstreaming from operating companies and the outlook for the holding company leverage ratio.”