Just this morning MTN announced that its Group CEO Sifiso Dabengwa has resigned his position with immediate effect. In the interim the company has appointed Phuthuma Nhleko as its Executive Chairman for a maximum period of 6-months while the company identifies a successor for Mr Dabengwa.
Speaking on the reason for his resignation, Sifiso Dabengwa made it clear that due to the unfortunate prevailing circumstances in Nigeria he believed it was in the best interest of the company and its shareholders that he resign. The telecommunications operator has been faced with some difficulties following a multi-billion rand fine from the Nigerian Communication Commission for refusing to disconmect 5.1 million subscribers as required by Nigeria’s SIM registration regulations.
The acting executive chairman Nhleko has served as non-executive director and chairman of MTN from July 2001 to June 2002. After which he served as executive director, group president and CEO in 2011 and for the past two years has been the group’s non-executive chairman.
