Why the MTN CFO really quit: report

[rpm]

Why the MTN CFO really quit: report

The Sunday Times provides information which it says is the real reason why MTN CFO Nazir Patel suddenly resigned

 

[Haldex]

Guess he had to be creative with their profits from sanctioned Iran.

 

[MKFrost]

What is the bet that top management was well aware of what he was doing. Somebody outside the company most probably found out what was going on and before somebody could blow the whistle MTN took action.

I cannot think that a CFO would have done that on his own.

 

[falcon786]

What is the bet that top management was well aware of what he was doing. Somebody outside the company most probably found out what was going on and before somebody could blow the whistle MTN took action.

I cannot think that a CFO would have done that on his own.

I don't think I'm following your logic,he basically seems to have not adhered to their own internal procedures probably because dealing in Iran is not as straight forward as elsewhere,but the article does say nothing illegal or theft related is being investigated.

I'm sure its more a case of MTN having its own internal procedures like any big corporate to protect itself from internal fraud and this individual did not adhere to those procedures for some reason or the other, but it does not not mean that he had in fact committed fraud or anything illegal.