MTN Group President and CEO, Phuthuma Nhleko has indicated that he will not be renewing his contract with the group when it expires on 30 June 2010.
According to a statement released by the company, Mr. Nhleko will stay on in his position after the expiration of his contract in June this year, and will finally step down in March 2011. Meanwhile, the board is in the process of appointing a successor.
“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. Over the coming months, I will continue to focus my full attention on delivering on the group`s strategic priorities and on ensuring a thorough handover to my successor”, explained Phuthuma Nhleko, Group President and CEO.
Nhleko agreed to assume his role as Group President and CEO until March next year, a decision aimed at facilitating the transition to his successor.
