MTN’s CEO Sifiso Dabengwa is out. Newly (re)appointed Executive Chairman of the MTN Group Phuthuma Nhleko is in.
Nhleko previously served as group CEO and is credited with growing MTN's subscriber base from 5 million to 160 million during his tenure.
Can Nhleko rescue the company and negotiate a solution to a massive fine in Nigeria?
The Money Show’s Bruce Whitfield interviewed Nhleko.
Scroll down for quotes from the audio below.
Dabengwa had a say in his departure. He decided to do the honourable thing.— Phuthuma Nhleko, MTN
We don’t want to negotiate through the media.— Phuthuma Nhleko, MTN
I can’t answer whether or not we knew about this.— Phuthuma Nhleko, MTN
I am quite confident that this situation won’t be permanent.— Phuthuma Nhleko, MTN
We need to go into other African countries. That’s our business model. It has some risks, but overall it has served our shareholders well.— Phuthuma Nhleko, MTN
The problem in Nigeria is regulatory; I accept that.— Phuthuma Nhleko, MTN
I don’t think we’re vulnerable to predatory investors. MTN is still a sizeable company. MTN’s culture, capacity and capability is not easily transferable.— Phuthuma Nhleko, MTN
I can’t say whether we’ll pay the whole fine. I don’t want to negotiate with Nigerian regulators on a public forum.— Phuthuma Nhleko, MTN
This article first appeared on 702 : Can MTN’s new Executive Chair save the company?