Acting MTN CEO is done after achieving the three goals he set out for
The group executive chairman of MTN, Phuthuma Nhleko, has told the Business Times that he is not considering returning as CEO of the operator.
This comes after he stepped in to deal with a record fine that the Nigerian Communications Commission penalised MTN Nigeria with, for failing to disconnect 5.2 million unregistered SIMs on its network.
Following a months-long dispute, the fine was reduced from 1.04 trillion naira (R79 billion) to ₦330 billion (R25 billion).
Nhleko said that dealing with the fine was one of three commitments he made to the MTN board when he took the reins as acting group CEO.
The second was to bring stability to MTN Nigeria, which Nhleko said he did by replacing its leadership.
Nhleko’s final task was to find a replacement CEO, which he said is a work-in-progress.
MTN said at its annual general meeting that it will announce a new CEO this month, and that Nhleko will step down at the end of June “at the latest”.
With all three tasks achieved, Nhleko said has complied with what his original agreement with the board was.
The full report is available in the Sunday Times (12 June 2016).
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