Phuthuma Nhleko, who has doubled as chairman and CEO since Sifiso Dabengwa's resignation in November, will revert to his non-executive chairman role "as soon as Rob assumes his new position as soon as is practicably possible". Besides the title of CEO, Shuter will also be MTN's group president.
Monday's statement included several new appointments, including that of Vodacom chief officer for consumer business Godfrey Motsa, who will be joining as vice-president of its South and East Africa (SEA) division. "Godfrey was previously CEO of Vodacom DRC Congo and CEO of Vodacom Lesotho. He brings 10 years of experience of telecoms in the region to MTN. He has various other commercial experience," Monday's statement said.
MTN appointed three new non-executive directors: Paul Hanratty, former Old Mutual chief operating officer; Stan Miller, former Dutch telephone company KPN CEO who was part of MTN's founding management team; and Nkunku Sowazi, Kagiso Tiso Holdings asset manager. An unnamed person will be joining MTN on June 30 as vice-president of mergers and acquisitions and strategy.
"The appointee has a wealth of banking experience. His substantial commercial experience will assist in the formulation of a revised strategy for MTN, particularly in the area of convergence between mobile telephony and financial services," the statement said.
Nhleko said in Monday's statement: "MTN has weathered a rather difficult storm and will continue to review its governance and management operating structure to ensure that it operates at an optimum level and continues to replenish management talent to ensure a sustained growth of the business."
MTN said the new appointments followed the successful resolution of the Nigerian dispute - the original $5.2bn fine was settled for about $1.671bn.
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