Sifiso Dabengwa, MTN GROUP CEO Resigns with immediate effect

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According to Mybroadband.com, MTN Group has announced that CEO Sifiso Dabengwa is leaving the company with immediate effect.
“Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect,” said Dabengwa.
The company has come under scrutiny of late following a R73-billion fine from the Nigerian communication authorities for failing to disconnect 5.1 million subscribers as required by the country’s SIM registration rules.
“The engagement with the Nigerian authorities on the Nigerian Communications Commission fine is continuing and shareholders will be advised as soon as there are any material developments on this matter,” said MTN.
Former MTN Group CEO and current non-executive chairman Phuthuma Nhleko will take over as executive chairman until a permanent replacement for Dabengwa is found.
Alan van Biljon will continue to serve as the lead independent director on the MTN board of directors while Nhleko takes over executive responsibility.
“Together with the MTN Board, my second priority will be to find an appropriate CEO to take MTN forward. I will then revert to my non-executive chairman role,” said Nhleko.
Nhleko is no stranger to the business as he served as non-executive director and chairman of MTN from July 2001 until June 2002, and thereafter as an executive director.
He has subsequently chaired the group in a non-executive capacity for the past two and a half years.
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