" ITREALMS: MTN Group president, Nhleko steps down


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Thursday, March 31, 2011

MTN Group president, Nhleko steps down

Group chairman and Board of Directors of MTN Group Limited, Mr. Cyril Ramaphosa has confirmed the stepping down of the group’s president and chief executive officer, Mr. Phuthuma Nhleko from all the MTN boards.

A press statement made available to ITRealms Online endorsed by Rich Mkhondo of MTN Group Corporate Affairs confirmed this Thursday.

He quoted the newly MTN Group chairman, Mr. Ramaphosa as saying that with effect from Thursday, March 31, 2011, Mr. Nhleko seizes to be in any of the MTN boards across the group’s investments.

Following this development, Ramaphosa disclosed that Mr. Nhleko seizes to be the Group President and CEO.

“He has resigned from all boards of the cellular network company,” he said.

Ramaphosa also said that Nhleko, who has been with the company for nine and half years, has stepped down from the directorships of MTN Group Limited, MTN Dubai Limited, MTN South Africa, MTN Nigeria, Irancell and MTN Syria.

“His resignation is effective from March 31, his last day as Group President and CEO of MTN,” part of the press statement read.

He therefore, expressed appreciation to Mr. Nhleko for his “immense contribution to the growth of the company during the past ten years”.

Mr. Nhleko joined MTN in 2001 as chairman, and was elevated to Group President and CEO a year later.

ITRealms Online recalled that MTN Group launched services in 1994 in its bid as a multinational telecommunications group, operating in 21 countries in Africa, Asia and the Middle East.

The MTN Group is listed on the Johannesburg Stock Exchange (JSE) Securities Exchange in South Africa under the share code: “MTN.”

As of 31 December 2010, MTN recorded 141, 6 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia.

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