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MTN appoints insider to top job

Dec 20 2010 10:22 Reuters

Company Data

Mtn Group Ltd [JSE : MTN]

Last traded R133.15
Change R0.85
% Change 0.64%
Cumulative volume 3.39m
Market cap R250.98bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - Africa's largest mobile operator MTN Group [JSE:MTN] on Monday said it has appointed Sifiso Dabengwa as its CEO and president to replace Phuthuma Nhleko, effective March 31 2011.

Dabengwa, MTN's current chief operating officer, has been with the group for 11 years.

Prior to joining MTN, the largest company with a primary listing in Johannesburg, Dabengwa was an executive director at power utility Eskom.

He has held senior management positions at MTN and managed the company's two biggest units, Nigeria and South Africa.

MTN also said that the position of chief operating officer has been abolished and instead it will appoint a new chief executive of its international operations.

The company also said that Nhleko has accepted the board's invitation to become a non-executive vice-chairperson and non-executive chairperson of yet-to-be established MTN international operations board.

MTN shares were up 1.1% to R128.40 on Monday, outperforming the Johannesburg's Top 40 index which was up 0.16% in early morning trade.

 
 
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