Embattled MTN CEO Quits

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MTN1The embattled Chief Executive Officer of MTN, Mr Sifiso Dabengwa, has resigned over a $5.2bn (£3.4bn) fine imposed on MTN by Nigeria.

“Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect,’’ Dabengwa was quoted as saying.

A successor to the outgoing CEO of MTN, Mr. Dabengwa is not found yet, but MTN have revealed that its non-executive chairman, Phuthuma Nhleko, would act as executive chairman on the interim.