MTN has named its group Chief Finance Officer, Ralph Mupita, as the Chief Executive Officer, when Rob Shuter steps down from the role.
MTN said this in a statement on Wednesday, while disclosing that the new appointment would take effect from September 1, 2020.
“Ralph has served as the MTN Group CFO since April 2017 and has played a critical role in the development and execution of the group’s strategy, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters,” the Telecoms firm said.
The company’s Chairman, Mcebisi Jonas said the new CEO was selected through a rigorous and extensive search process.
The current group President and CEO, Rob Shuter, would step down from his role as CEO on August 31 2020.
Based on the group’s arrangement, he would support the new executive as required until the end of his fixed-term contract early 2021.
“Ralph’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, M&A and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward,” the MTN chair added.
The new South African CEO was the CEO of Old Mutual Emerging Markets for five years.