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Rob Shuter to take the helm on 13 March as fresh trouble brews in Nigeria.
MTN on Monday confirmed in a quarterly trading update that incoming CEO Rob Shuter will take up his position on 13 March 2017.
When his appointment was announced in June, the South Africa-based telco said Shuter would join the company as soon as possible next year, but not later than 1 July.
"We are pleased to announce that the starting date for [the] new group president and CEO Rob Shuter has been brought forward," said MTN executive chairman Phuthuma Nhleko, who has been carrying out the responsibilities of the CEO since the departure of Sifiso Dabengwa in November 2015.
Dabengwa resigned after MTN’s Nigerian operation was slapped with a huge fine for missing the regulator’s deadline for disconnecting unregistered SIM cards.
MTN subsequently negotiated a lower fine; however, just as normalcy appeared to be returning to Nigeria, the company in late September was accused of illegally transferring $13.9 billion (€12.4 billion) out of the country. MTN Nigeria CEO Ferdi Moolman refuted the allegations.
In Monday’s trading update, MTN continued to refute the allegations, but revealed that Nigeria’s government has begun investigating them.
"MTN Nigeria and its bankers are cooperating with the investigation with a view to resolving the matter as expeditiously as possible," Nhleko said. "MTN Nigeria will strongly defend any action that would be prejudicial to its interest."
Meanwhile, MTN said that during the three months to 30 September, group revenue increased 3.6% sequentially, and that data revenue surged 21% year-on-year, and now accounts for 26.4% of total revenue.
Voice and data traffic increased 1.8% and 142% respectively on last year, the company said.
MTN’s subscriber base edged up 0.9% on the previous quarter to 234.7 million, as growth in West and Central Africa (WECA) offset declines in the Middle East and North Africa (MENA) and flat growth in South and East Africa (SEA).
"Despite a tough operating environment as a result of weaker macro-economic conditions, particularly in oil-dependent economies, as well as the regulatory challenges experienced, we are confident that the fundamental changes implemented over the past year position the group well to participate efficiently and effectively in the data evolution and ensure sound stakeholder relationships and governance processes," Nhleko said.
