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Johannesburg. South Africa | THE INDEPENDENT | MTN Group’s president and CEO Rob Shuter will step down in March 2021 at the end of his contract, the company confirmed Wednesday, as it released its financial results for year ended 31 December 2019.
“CEO Rob Shuter will be stepping down from his role at the end of his contract in March 2021. The board thanks Rob for the contribution he has made, and continues to make, to MTN. The succession process will be concluded during the year, enabling a seamless handover,” MTN Group said in a statement released today.
“Under his leadership significant progress has been made, including establishing and effectively communicating a clear vision and strategy, driving the resolution of a number of complex matters and delivering significant improvements in transformation, operational performance and staff morale.”
MTN group chief technology and IT officer Charles Molapisi has been appointed to the group executive committee and the fixed contract of the group chief operations officer, Jens Schulte-Bockum, has been extended until 31 March 2022.
2019 results
The company reported 9.7% growth in its revenue for the year, bolstered by a 12.6% increase in Nigeria and 22.9% in Ghana. However, in South Africa, MTN’s revenue grew by only 0.4%.
“In 2019, the 25th anniversary of MTN Group, we delivered commercial momentum across our operations as well as great progress in our strategy and strong financial results, despite challenging trading conditions,” Shuter said.
He said MTN added 18 million customers to reach a total of 251 million and increased data users by 17 million to 95 million and fintech customers by 7 million to 35 million. “This growth is central to our belief that everyone deserves the benefits of a modern connected life. We also saw improvements in customer experience, network quality and market share across the group.”
