MTN Nigeria has appointed Ernest Ndukwe, the former executive vice chairman/CEO, Nigerian Communications Commission (NCC) as chairman-designate in a board shake-up, that saw Dr. Pascal Dozie, long serving banker, ousted.
Ndukwe will take over on 2 September. Dozie has been chairman for almost 20 years.
MTN in a letter sent to Nigerian Stock Exchange, said: “This is to inform The Nigerian Stock Exchange (The Exchange), the investing public and other stakeholders that following the expiration of their tenure and in compliance with applicable codes of Corporate Governance, the under listed Non-Executive Directors are retiring from the Board with effect from 2nd September 2019.”
The outgoing Non-Executive Directors are: Dr. Pascal Dozie, Chairman, Col. Sani Bello (Rtd) Vice Chairman, Chief Victor Odili, Non-Executive Director, Mallam Ahmed Dasuki, Non-Executive Director, Babatunde Folawiyo, Non-Executive Director, Gbenga Oyebode, Non-Executive Director.
Acknowledging the vital contribution made by the outgoing Directors over the last 18 years, MTN Nigeria CEO Ferdinand Moolman said: “On behalf of MTN Nigeria, I would like to offer our heartfelt thanks to our pioneering Chairman, Pascal Dozie and the outgoing Directors.
“Our journey over the last 18 years has been incredible, and it would not have been possible without the initial entrepreneurial spirit of our founding directors, and their unfailing and dedicated support for MTN Nigeria’s vision over the years. I could not have asked for a more supportive, knowledgeable and experienced group of advisors.”
Speaking on behalf of the outgoing Directors Dr Pascal Dozie said: “In 2001, when I made the first call on the MTN Nigeria network, I don’t think anyone envisaged the pace and scale of growth that we, and the broader telecoms sector would achieve over the next 18 years. It is a unique story that we are immensely proud of.
“Having served as Chairman of MTN Nigeria for all of those 18 years, I achieved a long -held ambition earlier this year, when MTN Nigeria listed on the Nigerian Stock Exchange, providing an opportunity for a wider pool of Nigerians to become investors in the company.
“I cannot think of a better time to be handing over the reins of the company to a new Chairman, and to a new group of distinguished Nigerian Directors.
“Not only is this in line with best practice, which we are fully committed to as a member of the premium board of the Nigerian Stock Exchange, it is also absolutely aligned to the company’s future.
“On behalf of the out-going Directors, I would like to thank the Board and Management of MTN Nigeria for their support over the years and to welcome the incoming directors.
“They have a hugely exciting future in front of them, and I believe, the opportunity to make the next 18 years even more successful than the last.”
The letter further said, “The Board of MTN Nigeria Communications Plc would like to express its appreciation to the six directors for their commitment, leadership and extensive contributions to the success of the Company since their appointment in 2002. The Board wishes them the very best in all their future endeavours.
“The Company is pleased to announce the appointment of Mr Ernest Ndukwe as the Chairman Designate of MTN, and the addition of the following directors with effect from 2nd September 2019:
