Phuthuma Nhleko, the man who led MTN Group on an acquisition spree that turned the telecommunications operator into an emerging-markets giant, has stepped down from its board of directors.
MTN Group has sold 100% of its subsidiary in Cyprus for R4.1-billion. The Johannesburg-listed emerging-markets telecommunications group said on Monday before markets opened that it had sold the business
So, Ahmad Farroukh, MTN South Africa’s CEO of the past 11 months, is leaving at the end of July. His tenure has been rocky, to say the least. He was brought in to turn around the troubled operator
“It’s difficult to let go.” Phuthuma Nhleko, MTN’s group president and CEO, sounds almost rueful when I ask him why…