MTN Nigeria CEO Ferdi Moolman is stepping down, effective March 31, 2021, to take up a role as group chief risk officer in South Africa.
MTN Group West and Central Africa (Weca) VP Karl Toriola has been appointed as the new MTN Nigeria CEO, also effective March 31.
“The management of enterprise-wide risk is integral to MTN’s growth strategy and Ferdi will bring extensive operational and financial experience to the role given his deep knowledge of the group, its markets and the telecoms sector,” MTN said in a statement.
“As such, this appointment establishes the role of a chief risk officer as an integral part of the executive committee, on which Ferdi will continue to serve. Ferdi will also remain on the board of MTN Nigeria and will in due course be appointed to other material subsidiary boards given his new group responsibility.”
Toriola, who has a BSc Hons in Electronic and Electrical Engineering and an MSc in Communication Systems, has held a number of senior operational roles at MTN since joining the group in 2006, including chief technical officer of MTN Nigeria and CEO of MTN Cameroon. He is also a board member on a number of the companies within the group, including MTN Nigeria.
His successor as Weca VP will be announced after the group strategy review is completed by the end of November 2020.