Rob Shuter Steps Down, MTN Group Appoints Ralph Mupita as New CEO
MTN Group on Wednesday announced that Ralph Mupita, the company’s current CFO has been appointed as the new group president and Chief Executive Officer (CEO) effective from September 1, 2020.
In a statement released by the telecommunications giant, the Group said Mupita has served as the MTN Group CFO since April 2017 and played a critical role in the company’s development and execution of strategies, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters.
Speaking on the appointment, Mr. Mcebisi Jonas, the Group Chairman, “After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president and CEO position. Ralph’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, M&A and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward.”
Commenting on his appointment, Mupita said: “Leading a business with MTN Group’s history, scale and socio-economic impact is a privilege and honour, and I look forward to working with the group board and executive committee in driving growth and unlocking value for shareholders and broader stakeholders.”
“MTN Group is well positioned to take advantage of the digital acceleration shifts and opportunities across our markets, and we are well placed to play an important and leading role in digital and financial inclusion of the African continent, working with our stakeholders and partners.”
Rob Shuter, the current Group President and CEO, will step down on August 31, 2020 and support Ralph Mupita in his new role until the end of his fixed-term contract in 2021.
Mupita graduated from the University of Cape Town with a degree in Engineering and an MBA.
Before joining MTN Group, he was the CEO of Old Mutual Emerging Markets for five years, a business that provided financial services to individuals and corporates across 19 countries in Africa, Latin America and Asia, managing over R1 trillion of customer assets under management at the time.
