Rob Shuter to step down as MTN Group CEO in 2021
Rob Shuter, Group CEO at MTN will be stepping down from his role at the end of his contract in March 2021.
Though no successor has been appointed, the company says it will undertake the process of finding a new group CEO this year to ensure “a seamless handover”.
Announced during the company’s FY19 results, MTN also confirmed that group chief technology and IT officer, Charles Molapisi has been appointed to the group executive committee, while Jens Schulte-Bockum has had his fixed contract as group chief operations officer extended until 21 March 2022.
Shuter entered the role back in 2017, having previously served as CEO of Vodafone Europe. Prior to that, he worked in banking and served in the role having taken over from Sifiso Dabengwa.
During his four-year tenure, Shuter transformed the company’s governance standards as well as being in the process of overhauling the firm in its search for returns in all of its assets and services.
As for its financial performance, the company reported strong growth for the year, thanks to a number of strategic product launches.
“On the financial side, we delivered service revenue growth of 9,8% with an acceleration in the second half,” said Shuter.
“Our EBITDA margin improved and reported headline earnings per share grew by 62%. Our network rollout brought a further 69 million people into 4G coverage whilst reducing CAPEX intensity. Improved cash flows during the year supported stable balance sheet ratios.”
This was supported by the launch of MTN’s instant messaging platform Ayoba, which is now live in 12 markets with two million monthly active users. It also launched MoMo in South Africa and Afghanistan as well as winning its super-agent licence in Nigeria, registering more than 100 000 for the year.
Looking ahead, Shuter says that the company is well-positioned for growth and that the company is “ building our growth strategy on our digital operator model while optimising efficiencies, CAPEX and cashflow”.