Ramaphosa steps down from MTN board

ANC deputy president Cyril Ramaphosa has stepped down from his position as  a non-executive director and chairman of mobile operator, MTN.

Ramaphosa said in December that, owing to his election to the position of ANC deputy president at the ANC’s 53rd National Conference in Mangaung‚ he had initiated a review of his interests in business.

MTN said in a statement on Wednesday:

“Shareholders are advised that Mr Cyril Ramaphosa, a non-executive director and chairman of MTN will be retiring at the forthcoming annual general meeting of shareholders on 28 May 2013.
Mr Ramaphosa was appointed to the MTN Board on 1 October 2001 and has been serving as chairman of the MTN Board since 2002. He is also chairman of the nominations committee as well as a member of the remuneration  and human resources committee.
Following a review of his business related commitments, which include directorship of MTN, Mr Ramaphosa has now informed MTN that he wishes to relinquish his position as non-executive director and chairman of MTN and will therefore not avail himself for re-election at the annual general meeting to be held on 28 May 2013.”

Alan van Biljon, lead independent director will, in consultation with the nominations committee, undertake the process of identifying a suitable successor to Ramaphosa.

The MTN board thanked Ramaphosa for his “selfless and visionary leadership” as well as his immeasurable contribution.

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Ramaphosa steps down from MTN board