Phuthuma Nhleko has officially stepped down as group president and CEO of MTN, and from all boards of the cellular network company, as of the end of business yesterday.
The board says Nhleko, who has been with the company for nearly 10 years, has stepped down from the directorships of MTN Group Limited, MTN Dubai Limited, MTN SA, MTN Nigeria, Irancell and MTN Syria.
Today, therefore, marks the first day in office for new group president and CEO Sifiso Dabengwa.
Dabengwa's appointment was announced in December last year. He joined MTN as managing director of the South African operations in 2004, and 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.
He has worked closely with Nhleko in the development and execution of the group's growth strategy since his return to SA, 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.
Still involved
At the beginning of March, the MTN board issued a statement saying: "Given Phuthuma's 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."
Nhleko will reportedly retain ties with the operator as he has accepted an invitation to join the MTN board again as non-executive vice-chairman and the MTN board of directors as non-executive chairman. These appointments will reportedly take effect from October 2011.
Following the initial announcement of Nhleko's resignation last year, he said: "I have given this decision very careful consideration. I feel it is the right time to secure the next generation of leadership for the group - and the right time for me personally to start thinking about the next phase of my career.”
Nhleko was appointed as a non-executive director to the board of energy giant BP, as of the beginning of February.
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