Former MTN boss Phuthuma Nhleko takes seat on JSE board

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Phuthuma Nhleko, former MTN Group CEO.
Phuthuma Nhleko, former MTN Group CEO.

Phuthuma Nhleko, the former CEO and executive chairman of MTN Group, has been appointed to the Johannesburg Stock Exchange (JSE) board as an independent non-executive director, effective 1 July, and will next year chair the local bourse.

Nhleko, who led Africa’s biggest mobile network operator from 2002 until 2019, will serve as a member of the JSE’s group remuneration committee, group nominations committee and group deal committee.

In an announcement today, the JSE says: “He [Nhleko] has also accepted the board’s invitation to serve as chairman-designate and will assume the role of JSE board chairman, with effect from the annual general meeting to be held in May 2022. The board extends a warm welcome to Phuthuma and looks forward to his contribution and leadership.”

The respected former telecoms executive previously worked as a corporate finance executive at Standard Corporate & Merchant Bank. He also served as a non-executive director on the boards of several public listed companies, including Nedbank, Anglo American and BP.

Nhleko currently leads the Phembani Group, which he founded in 2012, and chairs the Phembani Remgro Infrastructure Fund, which has interests in petroleum, energy, cement and the resources industry.

He holds a BSc in Civil Engineering and an MBA.

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