MTN Appoints Nhleko New Chairman After Dabengwa’s Resignation

After the resignation of MTN Chief Executive Officer, Sifiso Dabengwa, following the $5.2bn fine imposed on the company by NCC, a non-executive chairman, Phuthuma Nhleko, has been appointed as a caretaker boss for a maximum of six months, while a new chief executive is found.
Mr Dabengwa had been in the top post at MTN for four years, but had served as the company’s chief operating office and as head of it’s Nigerian operations before that.

The ratings agencies Moody’s and Fitch lowered MTN’s credit rating last month because of the Nigeria fine, the size of which the South Africa-owned company is still thought to be trying to negotiate lower.