MTN Group on Monday announced the appointment of Karl Toriola as chief executive officer (CEO) of major subsidiary MTN Nigeria Communications, effective from 1 March 2021.
Toriola, current vice president for MTN Group’s West and Central Africa (WECA) region, will take over as MTN Nigeria CEO from Ferdi Moolman, who has served in this role for the past five years. Moolman will return to South Africa, where he will assume the new role of group chief risk officer.
Toriola has a BSc Hons in Electronic and Electrical Engineering and a MSc in Communication Systems. Moolman has a BCom and BCompt. He is a CA(SA).
Moolman joined MTN in 2002 and has held several senior positions within the group in Nigeria and in Iran. He has spent the past five years as the CEO of MTN Nigeria and, as its CFO prior to that. During that time, significant progress has been made in stabilising the business and setting it on a sustainable growth path.
“The management of enterprise-wide risk is integral to MTN’s growth strategy and Ferdi will bring extensive operational and financial experience to the role given his deep knowledge of the MTN Group, its markets and the telecoms sector.
“Ferdi will remain on the board of MTN Nigeria and will in due course be appointed to other material subsidiary boards given his new group responsibility,” MTN said.
In his five years as VP of MTN’s WECA region, Toriola has overseen the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon over the past two years, the operator said.
Since joining the group in 2006, Toriola has also held a number of senior operational roles at MTN, including chief technical officer of MTN Nigeria and CEO of MTN Cameroon. He is also a board member on a number of companies within the group, including MTN Nigeria.
MTN Group owns 78.8% of MTN Nigeria, which is listed on the Nigerian Stock Exchange and contributes around a third to the group’s service revenue.