African telecoms giant, MTN Group has announced a series of significant changes which includes the appointment of Emir of Kano and former CBN governor, Mallam Sanusi Lamido Sanusi to its board.
According to the group, these changes were made to “effect an evolution of the Board following recent challenging regulatory environments and competitive trading conditions.”
This is needed as the firm is now more stable and settled.
Changes made to MTN’s board
The Chairman of MTN Group, Phuthuma Nhleko, who was slated to step down on 23 May 2019, will now step down from the Board on 15 December 2019. This is to ensure him oversee an orderly transition of the Board. Following his expected step down, former South African deputy finance minister, Mcebisi Jonas, will take over as Chairman of MTN Group.
Dr Khotso Mokhele will assume the responsibilities of Lead Independent Director. Alan Harper, Jeff Van Rooyen and Koosum Kaylan will step down from the board. All these will take effect from 15 December 2019.
Independent Non-Executive Directors, Peter Mageza and Dawn Marole will also step down from the board effective 30 April 2020.
The company would also be bringing in new hands. These includes His Royal Highness Lamido Sanusi (former governor of the Central Bank of Nigeria), and Vincent Rague, a Kenyan national who worked for the International Finance Corporation (IFC) for 24 years.
The new appointees are expected to “bring a depth of skills and regional insights that will continue to enrich the experience of the board.”
MTN to establish International Advisory Board (IAB)
In addition to making changes to its Board, MTN would also establish an international advisory board (IAB) of prominent persons.
Chaired by the former President of South Africa, Mr. Thabo Mbeki, the function of this board would be to counsel, guide and support the MTN Group from time to time in fulfilling its vision and objective.
The board will comprise of John Kufuor, former President of Ghana; Dr. Aisha Abdullahi, former African Union Commissioner for Political Affairs; Dr. Mohammed el Baradei, former Director General of the International Atomic Energy Agency; Dr. Momar Nguer, President of Marketing & Services Total S.A. (France); and Phuthuma Nhleko, Chairman of MTN Group.
This board is expected to commence duty on 1 July 2019.
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