MTN Group president and CEO Phuthuma Nhleko will remain with the mobile operator until the end of June 2010.
Nhleko (47) has been the group's CEO since 2002, leading it through its expansion strategy into the Middle East and the rest of Africa.
His four-year contract with the mobile communications group came to an end this month. Group executive for corporate affairs Nozipho January-Bardill says the board of directors extended the contract to 2010.
In the year to end December 2006, Nhleko's remuneration - including retirement benefits, other benefits, bonuses and share options exercised - exceeded R14 million. This is a 58% increase on the previous year, when Nhleko received almost R9 million.
In the company's annual report, Nhleko said his goals for the current year are to complete the final elements to integrate acquisitions that complement the group's expansion strategy; optimise regional synergy and ensure strategic regional focus; continue to pursue appropriate expansion opportunities; improve operational efficiency; and take advantage of money transfer and mobile money opportunities in MTN Group markets.
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