South Africa-based MTN Group, has announced the appointment of current CFO, Ralph Mupita, as the new group CEO.
Ralph’s appointment as CEO will take effect from 1st September 2020, following three years as CFO.
As Group CEO, he will oversee the Africa region. The announcement was made via a company’s blog post on Wednesday, 19th August.
Ralph will take the baton of leadership from Rob Shuter, the outgoing CEO moving forward.
Rob served in the capacity for over five years, following his appointment in 2016. He is expected to step down a day before Ralph’s resumption on 1st September.
L-R: Outgoing CEO, Rob Shuter, and Incoming CEO, Ralph Mupita. Source: Technext.ng
MTN subscribers in Africa grew tremendously to over 245 million during Rob’s tenure.
The incoming CEO has also played critical roles in the company over the years in developing and executing the group’s strategies.
Also, Ralph oversaw the MTN’s capital allocation process and financial performance, among other activities.
What the group chairman had to say
Speaking on the new appointment, MTN Group Chairman, Mr. Mcebisi Jonas said,
“After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s caliber, experience, and ability to fill the CEO position. Ralph’s experience as the group CFO, strong knowledge of our businesses and markets, and successful background in financial services, M&A and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward.”
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Going by his previous achievement, there was no doubt that Ralph was indeed the right choice for the company.
The 47-year old Zimbabwean graduated from the University of Cape Town with a degree in Engineering and has an MBA.
Before joining MTN Group, Ralph was the CEO of Old Mutual Emerging Market. The business provided financial services to individuals and corporate organizations across various markets, including Africa, Latin America, and Asia.
At that time, he served in the leadership capacity for five years.
Describing the new appointment
According to Ralph, MTN has been positioned for greatness, and it is a rare privilege having to serve in the new capacity.
In his words, Ralph said, “Leading a business with MTN Group’s history, scale, and socio-economic impact is a privilege and honour. 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. 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,” Ralph added in conclusion.
The Group also stated that Rob is expected to work closely with the incoming CEO to ensure a seamless transition.
The appointment, although swift, is not unexpected. The Group announced in March that the current CEO would step down. However, it didn’t reveal who will replace him at that time.
This recent announcement has now re-affirmed the Group’s position on that note.
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