Leading MTN Group has come at “an enormous sacrifice”, outgoing CEO Rob Shuter said on Wednesday at a media conference following the presentation of the telecommunications operator’s 2019 financial results.
“I’ve loved my time here. It’s been the greatest privilege of my working career, but it’s been enormously challenging,” Shuter said. “We are on the road for more than half the month. I get home from Nigeria and the dogs bark at me,” he joked.
Shuter, a former chief financial officer of Vodafone Group who was headhunted from Vodafone Group in Europe to lead the turnaround of MTN, will step down from his role at the end of his fixed four-year contract in March 2021, the group announced on Wednesday morning.
“I came in on a fixed four-year contract. I will pass the baton on and take a well-deserved rest,” he said.
He said he will stay on for 12 months to ensure an “orderly succession process and to make sure we don’t skip a beat operationally”.
“I’m entirely focused on the next 12 months at MTN,” he said. “We have an enormous amount of work to do. We have good strategy and plans. When I get to the end of that, I will take a break and then figure out what best to do going forward.”
On his watch, MTN has successfully navigated major regulatory challenges, most notably in Nigeria, and he’s helped put the group back on a solid growth trajectory.
The group has a strong management team, with several top executives who could take the CEO reins when Shuter goes — assuming it looks internally for his replacement.
They include chief operating officer Jens Schulte-Bockum, chief financial officer Ralph Mupita, chief digital and fintech officer Yolanda Cuba, South Africa CEO Godfrey Motsa and Nigeria CEO Ferdi Moolman. – © 2020 NewsCentral Media