The Emir of Kano, Muhammadu Sanusi II, has been appointed as a member of the Board of Directors of telecom giant, MTN Group.
The immediate past governor of the Central Bank of Nigeria (CBN) was appointed alongside Kenyan Vincent Rague a Kenyan national who worked for the International Finance Corporation for 24 years in a number of senior positions. Their appointments take effect from July 1, 2019.
Sanusi’s appointment comes ahead of the Initial Public Offer of the company’s Nigeria subsidiary, MTN Nigeria, following its listing on the Nigeria Stock Exchange and transitioning from a Limited Company to a Public Liability Company (PLC).
In a statement on Friday, the company also confirmed that it has appointed a former South African deputy finance minister, Mcebisi Jonas, as Chairman-designate.
It said Jonas will assume the position of chairman of MTN Group effective on December 15 once Chairman Phuthuma Nhleko steps down.
In the ongoing shake-up, directors Alan Harper, Jeff Van Rooyen and Koosum Kaylan will step down from the board on December 15 while Peter Mageza and Dawn Marole will leave on April 30, 2020.
“In recent years MTN Group has experienced challenging regulatory environments and highly competitive trading conditions,” it said, adding that the board has also managed the transition of senior management during the period.
“The board is of the view that MTN Group has entered a more stable and settled phase, enabling it to now affect an evolution of the board.”