MTN Group today Friday announced the appointment of South Africa’s Former Deputy Finance Minister Mcebisi Jonas as chairman-designate in a board shake-up, the telecoms provider said on Friday.
Jonas will assume the position of chairman of MTN Group effective on Dec. 15 once Chairman Phuthuma Nhleko steps down, MTN said in a statement.
The telecoms provider said it would also establish an international advisory board made up of “prominent persons of considerable and wide-ranging experience”.
The advisory board will “counsel, guide and support the MTN Group” in its vision of growing its African and global footprint in telecommunications and increasing digital inclusion, MTN said in an update to shareholders.
The IAB will be non-statutory and board members will not have any fiduciary responsibility. Former SA president Thabo Mbeki will be its inaugural chairperson. The advisory board will start on July 1.
MTN share were trading at R106.50 at 11:00 on the JSE, up 2.46% on the day.