Ferdi Moolman, the longstanding CEO of MTN Nigeria, MTN Group’s largest operating subsidiary, will step down from the role at the end of February 2021.
Moolman, 57, will take on the role of group chief risk officer, based in Johannesburg, with effect from 1 March 2020, MTN said in a statement to shareholders on Monday.
He joined MTN 18 years ago and has held several senior positions at the group’s operations in Nigeria and in Iran, including the past five years as CEO of MTN Nigeria.
“The management of enterprise-wide risk is integral to MTN’s growth strategy and Ferdi will bring extensive operational and financial experience to the role given his deep knowledge of the group, its markets and the telecoms sector,” the group said in the statement.
“As such, this appointment establishes the role of a chief risk officer as an integral part of the executive committee, on which Ferdi will continue to serve. Ferdi will also remain on the board of MTN Nigeria and will in due course be appointed to other material subsidiary boards given his new group responsibility.”
Karl Toriola, 48, will replace Moolman as Nigeria CEO. Toriola is currently vice-president of MTN’s West and Central Africa region, a role he has held for the past five years. He has also held a number of senior operational roles at MTN since joining the group in 2006, including chief technical officer of MTN Nigeria and CEO of MTN Cameroon.
His successor as vice president for the region will be announced after the group strategy review is completed by the end of November 2020, MTN said.
“Karl brings extensive technical and commercial experience, as well as a deep understanding of the Nigeria market to the role,” said group CEO Ralph Mupita. “He started his MTN career in his home country at MTN Nigeria 14 years ago and has all the attributes necessary to lead this very important business into the future.”
On Moolman, Mupita said: “Ferdi has been an exemplary leader of MTN Nigeria and has put the business on a sound growth platform for the future. He brings significant strategic, financial and operational experience to the new group risk role, where we want to ensure that our enterprise-wide risk management systems are continuously strengthened and remain resilient as we drive our growth strategy.” — © 2020 NewsCentral Media