MTN Group President and Chief Executive Officer, Rob Shuter will be stepping down from his role in March 2021, according to the company.
According tosources, the board said the succession process will be concluded during the year, by the time Shuter’s contract will elapse, enabling a seamless handover.
The announcement is coming despite posting strong revenue-earning at the end of 2019 business year for the group. At the end of the business year ended 31 December 2019, the group said it 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.
Speaking about his achievements, the group president and CEO Rob Shuter said the group delivered commercial momentum across its operations as well as great progress in their strategy and strong financial results, despite challenging trading conditions.
In his words, “In 2019, the 25th anniversary of MTN Group, we delivered commercial momentum across its operations. We added 18 million customers to reach a total of 251 million and increased our data users by 17 million to 95 million and our 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.