MTN Group has appointed its former chief financial officer Zunaid Bulbulia as chief executive officer (CEO) for operations in South Africa, replacing Karel Pienaar.
Pienaar will become MTN’s chief strategy officer, with Bulbulia, a founding member of MTN, tasked with bolstering the group’s position in the market.
HumanIPO reported last month MTN, which operates mobile networks in 22 countries across Africa and the Middle East, had lost 1.9 per cent of its South African subscribers despite an increase of 3.2 per cent globally.
The company has now separated its Mergers and Acquisitions and Strategy departments.
Group President and CEO Sifiso Dabengwa expressed his faith in both Pienaar and Bulbulia in their new roles.
“We look forward to their continued contribution to MTN’s growth in their new roles,” Dabengwa said.
MTN also thanked Cyril Ramaphosa, who has now retired as non-executive director and chairman, for his work for the company.
“The Board would like to take this opportunity to thank Mr Ramaphosa for his support and efforts over the years. His valuable contribution and strong leadership have been key drivers in the ongoing success of the Group,” the company said in a statement.
Ramaphosa retired after a review of his business interests in light of his election as deputy president of South Africa. He has been replaced by Phuthuma Nhleko, who previously served in the roles from July 2001 until June 2002.
