South African telecoms giant, MTN, appoints new CEO
South African telecommunications giant, MTN Group Limited, announced on Wednesday that the Chief Financial Officer, Ralph Mupita, has been appointed as the new group president and Chief Executive Officer with effect from 1 September 2020 to succeed Rob Shuter.
The company said Mupita had served as the MTN Group CFO since April 2017 and had played a critical role in the development and execution of the group’s strategy, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters.
MTN Group Chairman, Mcebisi Jonas, said in a statement, “After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president and CEO position.
“Ralph’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, M&A and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward.”
Prior to joining MTN, Mupita was the CEO of Old Mutual Emerging Markets for five years, according to the statement.
Commenting on his appointment, he said, “Leading a business with MTN Group’s history, scale and socio-economic impact is a privilege and honour, and I look forward to working with the group board and executive committee in driving growth and unlocking value for shareholders and broader stakeholders.
“MTN Group is well-positioned to take advantage of the digital acceleration shifts and opportunities across our markets, and we are well placed to play an important and leading role in digital and financial inclusion of the African continent, working with our stakeholders and partners.”
The current group president and CEO, Shuter, will step down from his executive responsibilities on August 31 2020 and will thereafter support Mupita as required until the end of his fixed-term contract early next year, according to the statement.
