MTN has dismissed reports saying that its interim CEO, Phuthuma Nhleko, would be stepping down in May to make way for a new group head.<\/p>\n
Last week, Bloomberg reported that Nhleko was preparing to step down from his role as MTN’s acting executive chairman as early as May, and that the group had a short-list of three names to take over.<\/p>\n
Two candidates are reportedly from MTN, and one is from outside the company, Bloomberg said, citing a person familiar with the matter.<\/p>\n
However, MTN said in a statement on Tuesday<\/a> that Nhleko’s tenure at the company – which was initially supposed to be six months – has not yet been discussed by the board, and depends on the resolution of two issues.<\/p>\n The first issue is finding the next CEO, and the second is the $3.9 billion fine the group faces in Nigeria.<\/p>\n \u201cOn both occasions, (Nhleko) has not indicated that he has reached finality on these matters. The board gave him a mandate to resolve, and he is still working to do just that,\u201d MTN said.<\/p>\n The group said it was continuing to engage with Nigeria over the fine, and would not be drawn into commenting further on its status.<\/p>\n The group said Nhleko will stay on for as long as he needs to.<\/p>\n Speaking at MTN\u2019s annual\u00a0results presentation in March Nhleko said the search for a new CEO is well underway, with an announcement expected in the second quarter of 2016.<\/p>\n The company head said\u00a0that finding the right group CEO is critical for\u00a0MTN\u2019s\u00a0success, with Nhleko adding that\u00a0his role was a temporary one as the company faced its \u201cmost difficult year in history\u201d.<\/p>\n Nhleko\u00a0\u2013 a former MTN CEO \u2013 was elected\u00a0as executive chairman in a temporary capacity at the group, following the resignation of Sifiso Dabengwa as group CEO in November 2015.<\/p>\n He took up the responsibility to\u00a0proactively deal with the Nigerian regulators regarding a\u00a0\u20a61.04-trillion (around R71-billion at the time) fine imposed on the company in October 2015 for not disconnecting unregistered SIMs on its network.<\/p>\n MTN draws up CEO shortlist: report<\/a><\/strong><\/p>\n S&P expects conservative MTN dividend policy<\/strong><\/a><\/p>\n Nigeria lawmakers say MTN\u2019s fine should be R241 billion<\/strong><\/a><\/p>\nMore on MTN<\/h3>\n