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MTN Nigeria on Wednesday, announced a change in the composition of its board which will take effect upon the expiration of the terms in office of some of its members.
The company notified the Nigerian Stock Exchange, the investing public and other stakeholders that some non-executive directors; including the Chairman, Dr. Paschal Dozie are retiring from its board after 18 years of service.
This was made known by the company secretary, Mr Uto Ukpanah in a statement made available to newsmen in Lagos noting that the retirement would take effect on Sept. 2.
According to him, the decision is in compliance with applicable codes of Corporate Governance.
Those listed to be retiring from the board include; Dr. Pascal Dozie, CON, Chairman; Col. Sani Bello (Rtd), Vice Chairman; Chief Victor Odili, OON, Non-Executive Director.
Other non-executive directors are Mallam Ahmed Dasuki; Mr Babatunde Folawiyo, Mr Gbenga Oyebode, MFR.
MTN Nigeria CEO Ferdinand Moolman, offered the company’s heartfelt thanks to the pioneering Chairman, Dozie and the outgoing Directors.
“Our journey over the last 18 years has been incredible, and it would not have been possible without the initial entrepreneurial spirit of our founding directors, and their unfailing and dedicated support for MTN Nigeria’s vision over the years.
“I could not have asked for a more supportive, knowledgeable and experienced group of advisors,” Moolman said.
On his part, Dozie who spoke on behalf of other outgoing directors, said, ”In 2001, when I made the first call on the MTN Nigeria network, I don’t think anyone envisaged the pace and scale of growth that we, and the broader telecoms sector would achieve over the next 18 years.
“It is a unique story that we are immensely proud of, and having served as chairman of MTN Nigeria for all of those 18 years, I achieved a long-held ambition earlier this year, when MTN Nigeria listed on the NSE, providing an opportunity for a wider pool of Nigerians to become investors in the company.
“I cannot think of a better time to be handing over the reins of the company to a new Chairman, and to a new group of distinguished Nigerian Directors.
“Not only is this in line with best practice, which we are fully committed to, as a member of the premium board of the NSE, it is also absolutely aligned to the company’s future.
“On behalf of the out-going directors, I will like to thank the board and management of MTN Nigeria for their support over the years and to welcome the incoming directors.
“ They have a hugely exciting future in front of them, and I believe the opportunity to make the next 18 years even more successful than the last.”
Meanwhile, MTN has announced the appointment of Mr. Ernest Ndukwe as the Chairman designate of the company, and the addition of the following directors with effect from Sept. 2.
Dr Ernest Ndukwe, Chairman Designate, Mr Ferdinand Moolman- Chief Executive Officer, Mr Michael Onochie Ajukwu – Independent Non-Executive Director, Mr Muhammad K. Ahmad, OON -Independent Non-Executive Director.
Others listed were Mr Andrew Alli – Non-Executive Director, Mr Rhidwaan Gasant, Independent Non-Executive Director; Mrs Omobola Johnson, Non-Executive Director; Mr A.B. Mahmoud, OON, Non-Executive Director; Mr Ralph Mupita, Non-Executive Director.
Others included Mr Paul Norman, Non-Executive Director; Mrs Ifueko Okauru, MFR, Non-Executive Director; Mr Jens Schulte-Bockum, Non-Executive Director; Mr Rob Shuter , Non-Executive Director; and Mr Karl Toriola, Non-Executive Director.
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