South Africa’s MTN announced that Phuthuma Nhleko would step down as group CEO and president by March 2011.
Also leaving is chairman Cyril Ramaphosa who said time had come for him “to start thinking about the next phase of my career” and “focus on…
South Africa’s MTN announced that Phuthuma Nhleko would step down as group CEO and president by March 2011.
Also leaving is chairman Cyril Ramaphosa who said time had come for him “to start thinking about the next phase of my career” and “focus on ensuring a thorough handover to my successor.”
The news follows protracted rumours that Nhleko would not seek to renew his contract when it expires at the end of June this year.
While Nhleko will not renew his contract, he has agreed to stay longer, in part to ensure a smooth transition, the group said.
Nhleko may also keep close ties with MTN after his departure. Given his “knowledge and insights into MTN we have mutually agreed to explore other options for an ongoing association between Phuthuma and the group post his service as president and CEO,” chairman Cyril Ramaphosa said in a statement.
The board has started looking for a successor.