A credible source at the MTN Group
office told our correspondent that the company subsequently appointed Phuthuma
Nhleko as Executive Chairman in a temporary capacity.
He said Nhleko, the current
Non-executive Chairman, has agreed to act as Executive Chairman for a maximum
period of six months while the company identifies a successor for Dabengwa.
A copy of Dabengwa’s resignation
letter was made available to our correspondent.
It read in parts, “Due to the most
unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the
interest of the company and its shareholders, have tendered my resignation with
immediate effect.”
Officials at MTN said Nhleko was no
stranger to the business as he served as non-executive director and chairman of
MTN from July 2001 until June 2002 and thereafter as an executive director,
Group president and CEO until March 2011. He has subsequently chaired the Group
in a non-executive capacity for the past two and a half years (since May 29,
2013).
“I will assume responsibility as
Executive Chairman for the next six months as I proactively deal with the
Nigerian regulator and will continue to work with them in addressing the issues
around unregistered subscribers as a matter of urgency,” Nhleko said in his
acceptance letter.
The PUNCH gathered that Mr. Alan van
Biljon would continue to serve as the Lead Independent Director on the MTN
board of directors (MTN Board), while Nhleko takes over executive
responsibility.
“Together with the MTN Board, my
second priority will be to find an appropriate Chief Executive Officer to take
MTN forward. I will then revert to my Non-executive Chairman role,” Nhleko
added.
”Stakeholders are reminded that MTN
will continue to inform them of any material engagements with the Nigerian
authorities via the Stock Exchange News Service of the JSE Limited.
“Shareholders are advised to
continue to exercise caution when dealing in the company’s securities until a
further announcement is made,” the source added.
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