MTN's group chief operating officer Sifiso Dabengwa is to take over the reins from Phuthuma Nhleko when he steps down at the end of March next year.
After eight years leading the group, Nhleko announced in March this year his intention not to renew his contract when it came up for renewal in June. He agreed to stay on until March 2011 to ensure a smooth transition.
In a notice to shareholders this morning, MTN announced Dabengwa's appointment as group chief executive and president, succeeding Nhleko.
Dabengwa (53) joined MTN in 1999 as managing director of the South African operations. In 2004, he was promoted to COO and in a dual role, was also seconded to the position of CEO of MTN Nigeria, to oversee the region's growth and consolidation. Dabengwa has worked closely with Nhleko in the development and execution of the group`s growth strategy since his return to South Africa, the company says.
Dabengwa has a BSc Electrical Engineering and an MBA degree. Prior to joining the MTN Group, he was an executive director at Eskom.
Management changes
In the same notice, MTN told the market it has decided to abolish the COO position. Instead, the operator says will appoint a CEO of MTN's International (MTNI) operations to focus more intensely on the opportunities available to MTNI.
An executive search to identify and appoint a suitable candidate for this post is currently in process, MTN said. Additionally, a formalised subsidiary board structure for MTNI is in the process of being set up.
Meanwhile, Nhleko will retain ties with the operator as he has accepted an invitation to join the MTN board again as non-executive vice chairman and the MTNI board of directors as non-executive chairman. These appointments will take effect from October 2011.
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