MTN plans announcement on new CEO by end-June

News Wireless Africa 25 MAY 2016
MTN plans announcement on new CEO by end-June
MTN Group said it's searching for a new CEO as the current executive chairman, Phuthuma Nhleko is expected to step down as acting CEO by the end of June. In a statement ahead of its AGM, the group said the search for a new MTN Group CEO is well underway, and it will make an announcement before the end of June. The statement also said that MTN expects its overall performance to be impacted by the weak macro environment in key markets as well as by tougher competition – most notably in South Africa and Nigeria. The company is still faced with a USD 3.9 billion fine in Nigeria, which it says it is actively engaging with Nigerian authorities over.

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