WED, AUG 19 2020-theG&BJournal-African telecoms giant MTN Group today announced the appointment of its Chief Financial Officer (CFO) Ralph Mupita as the new group president and CEO with effect from 1 September 2020.
Mupita’s appointment comes amid the company’s restructuring and desire to quit the Middle East market to focus on Africa. It recently announced that it would look to dispose of its operations in the Middle East in an orderly manner over the medium term (over the next three to five years), a decision taken by its board of directors who believe MTN would be best served in the future by focusing on its pan-African strategy.
Mupita, a graduate of the University of Cape Town with a degree in Engineering and an MBA, has served as the Group’s CFO since April 2017.
“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,’’ Group chairman Mr Mcebisi Jonas said.
Prior to joining MTN, Mupita was the CEO of Old Mutual Emerging Markets for five years, a business that provided financial services to individuals and corporates across 19 countries in Africa, Latin America and Asia, managing over R1 trillion (about N22.1 trillion) of customer assets under management at the time.
“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,” Mupita said in response to his appointment.
The current group president and CEO, Rob Shuter, will step down from his executive responsibilities on 31 August 2020, and ‘’will thereafter support Ralph as required until the end of his fixed-term contract early next year,’’ the company said.
MTN said an update regarding the GCFO position will be made on or before 1 September 2020.