The
MTN Group has released the statement below announcing the resignation
of its Nigerian CEO just as the N1.4 trillion fine imposed on the
company was slashed by the Nigerian Communications Commission, NCC.
“MTN Nigeria’s CEO Michael Ikpoki and the head of Regulatory and
Corporate Affairs Akinwale Goodluck have tendered their resignations
with immediate effect,” the company said in a statement Thursday
morning.
“They are replaced by Ferdi Moolman as MTN Nigeria CEO and Amina
Oyagbola as its head of Regulatory and Corporate Affairs. Mr Moolman was
previously COO at MTN Irancell and most recently CFO at MTN Nigeria. A
Nigerian national, Ms Oyagbola also retains the position of MTN
Nigeria’s Head of Human Resources. She formerly headed regulatory
affairs at the Nigerian operating company.”
The company also said it has received a formal letter dated December 2
from the NCC informing it that, “after considering the Company’s
request, it has taken the decision to reduce the fine on the MTN
Nigerian business from the original N1,040,000,000,000 (One Trillion,
Forty Billion Naira) to N674 Billion Naira which has to be paid by 31
December 2015.”
The fine relates to the late disconnecting of 5.1 million MTN Nigeria subscribers in August and September 2015.
The company also announced major restructuring.
Details of these two developments will come later in our subsequent updates.
However, read full statements below.
New operating structure and senior management changes
South Africa |
Johannesburg – MTN Group has reviewed its operating structure with a
view to strengthening operational oversight, leadership, governance and
regulatory compliance across its 22 country operations in Africa and the
Middle East.
To this end, the Group has resolved to re-implement its previous
reporting structure. This will see MTN Group restructured into three
regions – namely West and Central Africa (“WECA”), South and East Africa
(“SEA”), and Middle East and North Africa (“MENA”). MTN has also made a
number of senior appointments to support this structure.
Effective 1 December 2015 Jyoti Desai assumed the new position of
Group Chief Operating Officer (“COO”). Based in Johannesburg, she
reports to the Executive Chairman, Phuthuma Nhleko. Ms Desai has 14
years’ experience at MTN. She has previously held the positions of Chief
Information Officer at MTN Nigeria, was COO of MTN Irancell and was
recently seconded to support the Nigerian country operations. Her
replacement as Group Chief Technology and Information Officer will be
announced soon.
Two regional Vice Presidents (“VP”) have been appointed, also
reporting to the Executive Chairman. The VP for WECA is Karl Toriola,
with Ismail Jaroudi the VP for MENA. The VP for SEA will be announced
soon.
Based in Nigeria, Mr Toriola has been at MTN for 10 years, having
held senior operational roles at MTN Group and MTN Iran. He was formerly
also the Chief Technology Officer at MTN Nigeria and CEO at MTN
Cameroon.
Mr Jaroudi has been CEO of MTN Syria since 2006. Prior to this he
held senior operational roles for Investcom’s subsidiaries across the
Middle East and North Africa.
Also reporting to the Executive Chairman is the new Group Executive
for M&A, Matthew Odgers. The former head of TMT for Africa & the
Middle East and head of investment banking for MENA at UBS, Mr Odgers
led UBS’s overall relationship with MTN.
MTN Nigeria’s CEO Michael Ikpoki and the head of Regulatory and
Corporate Affairs Akinwale Goodluck have tendered their resignations
with immediate effect. They are replaced by Ferdi Moolman as MTN Nigeria
CEO and Amina Oyagbola as its head of Regulatory and Corporate Affairs.
Mr Moolman was previously COO at MTN Irancell and most recently CFO at
MTN Nigeria. A Nigerian national, Ms Oyagbola also retains the position
of MTN Nigeria’s Head of Human Resources. She formerly headed regulatory
affairs at the Nigerian operating company.
The search for the MTN Group CEO is underway and remains a priority.
Commenting on the announcements, MTN Group Executive Chairman
Phuthuma Nhleko said: “This revised structure and strengthened
leadership will improve operational oversight and increase management
capacity. This will enable MTN to continue to realise its strategy and
vision, while also ensuring we achieve high governance standards and
robust risk mitigation.”
With the financial year closing on 31 December 2015, the MTN Group
will report its FY2015 results in line with the former structure –
namely for MTN Nigeria, MTN South Africa, Large Operating Companies and
Small Operating Companies.
– Issued by MTN Group Corporate Affairs
The Nigerian Communications Commission (NCC) reduces imposed fine to
US$3.4 billion equivalent and further cautionary announcement
South Africa | 3/12/2015
Shareholders are advised that, after further engagements with the Nigerian Authorities, the NCC has reduced the imposed fine.
MTN has received a formal letter dated 2 December 2015 from the NCC
informing the Company that, after considering the Company’s request, it
has taken the decision to reduce the fine on the MTN Nigerian business
from the original N1,040,000,000,000 (One Trillion, Forty Billion Naira)
to N674 Billion Naira which has to be paid by 31 December 2015. The
fine relates to the late disconnecting of 5.1 million MTN Nigeria
subscribers in August and September 2015.
The Company is carefully considering the NCC’s reply, however the
Executive Chairman Phuthuma Nhleko will immediately and urgently
re-engage with the Nigerian Authorities before responding formally, as
it is essential for the Company to follow due process to ensure the best
outcome for the Company, its stakeholders and the Nigerian Authorities
and accordingly all factors having a bearing on the situation will be
thoroughly and carefully considered before the Company arrives at a
final decision.
Shareholders are therefore advised to continue to exercise caution
when dealing in the Company’s securities until a further announcement is
made.
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