MTN Group executive chairman Phuthuma Nhleko is continuing in his role past the 09 May expiry of his initial contract, as he is still working on the dual tasks of recruiting a new chief executive officer and resolving a record fine in Nigeria, Bloomberg reported. MTN spokesman Chris Maroleng told the news agency that the board had given Nhleko a mandate and that he would continue as executive chairman until this mandate has been fulfilled.
Nhleko had been head of Johannesburg-based MTN until 2011 and returned to the executive role in November 2015 following the resignation of CEO Sifiso Dabengwa. He agreed to a six-month contract to address the company’s USD 5.2 billion fine in Nigeria, later reduced to USD 3.9 billion, for missing a deadline to disconnect unregistered SIM card users.
Nhleko was paid ZAR 5 million for work from 09 November 2015 until the end of the year, Bloomberg said, citing MTN’s annual report. This indicates a total payout of ZAR 17.5 million for six months’ work, Bloomberg added, not including any bonuses.
