MTN Nigeria Appoint New CEO, As Ferdi Moolman Exit For New Role

MTN Nigeria has appointed a new Chief Executive Officer as the incumbent, Ferdinand Moolman, is set to takeover a new position in the MTN Group, the parent company of MTN Nigeria. AllNews gathered that Karl Toriola was appointed as CEO-designate.

This means Toriola is an awaiting CEO, as his appointment will not be effective until March 1, 2021. Toriola is expected to continue in his present role of Vice President of MTN Group's West and Central Africa (WECA) operation - excluding Nigeria and Ghana subsidiaries.

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Toriola Is A Blast From The Past

Toriola's appointment as CEO of MTN Nigeria is some sort a blast from the past, as he was once the Chief Technical Officer of MTN Nigeria. It was gathered that Toriola joined MTN Group in 2006, and as since "had oversight responsibility of 16 of the Group subsidiaries." a statement seen by AllNews disclosed.

While speaking about Toriola's appointment, MTN Group President and CEO, Ralph Mupita, said, “Karl brings extensive technical and commercial experience, as well as a deep understanding of the Nigeria market to the role.

“Karl 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.” Mupita said. Note that MTN Group owns 78.8% of MTN Nigeria and contributes around a third to the group’s service revenue.

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Where Is Ferdi Going To?

While Ferdinand Is expected to quit his position as MTN Nigeria's CEO come March 1, 2021, he will remain in MTN Group, as he has been appointed a new role within the telecommunications giant. Ferdinand will become the Chief Risk Officer of MTN Group.

Ferdinand has been working with MTN Group since 2002. In his reaction to Ferdinand's impending exit as CEO, 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.”