| SENS Note - 03 December 2015 |
| MTN - new operating structure & management changes |
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Shareholders are referred to the announcements issued by the Company on the JSE Ltd.’s Stock Exchange News Service (“SENS”) since 26 October 2015. MTN advises shareholders that it has reviewed its operating structure with a view to strengthening operational oversight, leadership, governance and regulatory compliance across its 22 country operations in Africa and the Middle East. To this end, MTN has resolved to re-implement its previous reporting structure. This will see MTN Group restructured into three regions – namely West and Central Africa (“WECA”), South and East Africa (“SEA”), and Middle East and North Africa (“MENA”). MTN has also made a number of senior appointments to support this structure. Effective 1 December 2015 Jyoti Desai assumed the new position of Group Chief Operating Officer (“COO”). Based in Johannesburg, she reports to the Executive Chairman, Phuthuma Nhleko. Two regional Vice Presidents (“VP”) have been appointed, also reporting to the Executive Chairman. The VP for WECA is Karl Toriola, with Ismail Jaroudi the VP for MENA. The VP for SEA will be announced soon. MTN Nigeria’s CEO Michael Ikpoki and the head of Regulatory and Corporate Affairs Akinwale Goodluck have tendered their resignations with immediate effect. They are replaced by Ferdi Moolman as MTN Nigeria CEO and Amina Oyagbola as its head of Regulatory and Corporate Affairs. Mr Moolman was previously COO at MTN Irancell and most recently CFO at MTN Nigeria. A Nigerian national, Ms Oyagbola also retains the position of MTN Nigeria’s Head of Human Resources. She formerly headed regulatory affairs at the Nigerian operating company. The search for the MTN Group CEO is underway and remains a priority. With the financial year closing on 31 December 2015, the MTN Group will report its FY2015 results in line with the former structure – namely for MTN Nigeria, MTN South Africa, Large Operating Companies and Small Operating Companies. |
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