MTN Nigeria Get A New CEO - Karl Toriola
The MTN Group has announced a shake-up of its top management executives with the announcement of Mr Karl Toriola as the new Chief Executive Officer (CEO) of MTN Nigeria - its largest market operation. Karl is taking over from Ferdi Moolman, who, according to the company, will take up a new role as the Group Chief Risk Officer. The appointments will take effect from March 01 2021.
Karl Toriola, the incoming CEO of MTN Nigeria is at present serving as the vice president of MTN Group's vice president for the West and Central Africa (WECA) region, and the new appointment is thought by analysts to be a reward for his stellar performances in the WECA markets.
A profile statement from MTN said: "Since joining the group in 2006, Karl (48) has also held several senior operational roles at MTN, including CTO of MTN Nigeria and CEO of MTN Cameroon. He is also a board member on some companies within the group, including MTN Nigeria.
Mr Ralph Mupita, the President and CEO of MTN Group of the appointment: "Karl brings extensive technical and commercial experience, as well as a deep understanding of the Nigeria market to the role. Karl started his MTN career in his home country at MTN Nigeria 14 years' ago and has all the attributes necessary to lead this very important business into the future."
The MTN Group owns 79 per cent of MTN Nigeria's stock, and the Nigerian market contributes about a third of the group's revenues.
Credit: contribution from ITWeb Africa