MTN CEO Rob Shuter has said that after his contract ends in March 2021, he will be taking a rest from the demanding job he has held since 2017.
“I came in a fixed four-year contract,” Shuter said at a media briefing following MTN’s financial results presentation for the year ended 31 December 2019.
MTN announced that Shuter will step down from his position in March 2021.
The company also said that MTN group chief technology and IT officer Charles Molapisi has been appointed to the group executive committee and the contract of group chief operations officer Jens Schulte-Bockum has been extended until 31 March 2022.
A well-deserved rest
Shuter said he will be taking a well-deserved rest after his tenure at MTN ends, adding that he has no concrete plans beyond that.
“I came back to South Africa on a four-year assignment – I loved my time here,” Shuter said. “It has been the greatest privilege of my working career, but it has been enormously challenging.”
“It is really important also that we have stability and continuity,” he said.
He said he is entirely focused on the next 12 months at MTN, as the company has an enormous amount of work to do.
“That’s what I’m busy with, and when I get to the end of that I am going to take a break with my family and figure out what is best going forward.”
Critical year ahead
Shuter said he will continue to approach this year as energetically as ever, adding that it will be a critical time for MTN.
“This is a critical year and I have no intention of coasting to the finish,” he said.
“Once I get through that I will take a break and reflect.”
“I don’t want to be distracted during such as a critical year. We would have liked for it to be an easier year but of course, the macroeconomic environment is not on our side,” Shuter added.
Shuter said that, in general, CEO succession is not well-handled in South Africa and MTN is determined to have a smooth and seamless handover.
“I have an on switch and an off switch, but I don’t have a medium switch, so we are going to be fully engaged over the next 12 months,” he said.