MTN Group's President and Chief Executive Officer, Rob Shuter, will be exiting the South African telecommunications company at the end of this month, August 31, 2020, as the network provider makes changes in the headquarters' top executive level.
The company is not looking to replace Shuter with an outsider, MTN Group appointed it's chief financial officer, Ralph Mupita, to take the CEO position. Mupita will resume in the CEO capacity on September 1, 2020. For the last three years (April 2017), Mupita had been the CFO of MTN Group.
While speaking about his appointment, Mupita said, “Leading a business with MTN Group’s history, scale and socio-economic impact is a privilege and honour, and I look forward to working with the group board and executive committee in driving growth and unlocking value for shareholders and broader stakeholders.
“MTN Group is well-positioned to take advantage of the digital acceleration shifts and opportunities across our markets, and we are well placed to play an important and leading role in digital and financial inclusion of the African continent, working with our stakeholders and partners,” Mupita said. He will be assisted by Shuter until his contract runs out completely in 2021.
Mupita - a Master of business administration (MBA) and an engineering degree holder, as well as alumni of the University of Cape Town - was previously the CEO of Old Mutual Emerging Markets for five years before joining MTN Group. It was learnt that Mupita was crucial in MTN Group's business growth and financial strength in the telecoms market.
In a statement from MTN, it was stated that he was vital to the firm's "development and execution of the group’s strategy, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters”.
Also commenting on Mupita's appointment, MTN Group chairman, Mcebisi Jonas, said, “After a rigorous and extensive search process, we are pleased to have appointed someone of Mupita’s calibre, experience and ability to fill the group president and CEO position”.
“Mupita’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, mergers & acquisitions (M&A) and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward,” Jonas said.