MTN Nigeria board Chairman, Paschal Dozie, five other Directors retire

MTN Nigeria on Wednesday notified the Nigerian Stock Exchange, the investing public and other stakeholders that some non-executive Directors, including the Chairman, Dr. Paschal Dozie, are retiring from its Board after 18 years of service.
The Company Secretary, Uto Ukpanah, made this known in a statement made available to newsmen in Lagos.
Ukpanah said the retirement would take effect on September 2
According to him, it is due to the expiration of their tenure and in compliance with applicable codes of Corporate Governance.
He listed those affected as Dozie, Chairman; Colonel Sani Bello (retd), Vice Chairman; and Chief Victor Odili, Non-Executive Director.
Other non-Executive Directors are Malam Ahmed Dasuki, Babatunde Folawiyo and Gbenga Oyebode.
Acknowledging the vital contribution made by the outgoing Directors over the last 18 years, MTN Nigeria CEO, Ferdinand Moolman, offered the company’s heartfelt thanks to Dozie, the pioneer chairman, and the outgoing Directors.
Moolman said: “Our journey over the last 18 years has been incredible, and it would not have been possible without the initial entrepreneurial spirit of our founding directors, and their unfailing and dedicated support for MTN Nigeria’s vision over the years.
“I could not have asked for a more supportive, knowledgeable and experienced group of advisors.”
Speaking on behalf of the outgoing Directors, Dozie said: “In 2001, when I made the first call on the MTN Nigeria network, I don’t think anyone envisaged the pace and scale of growth that we, and the broader telecoms sector would achieve over the next 18 years.
“It is a unique story that we are immensely proud of, and having served as chairman of MTN Nigeria for all of those 18 years, I achieved a long-held ambition earlier this year, when MTN Nigeria listed on the NSE, providing an opportunity for a wider pool of Nigerians to become investors in the company.
“I cannot think of a better time to be handing over the reins of the company to a new Chairman, and to a new group of distinguished Nigerian Directors.
“Not only is this in line with best practice, which we are fully committed to, as a member of the premium board of the NSE, it is also absolutely aligned to the company’s future.
“On behalf of the out-going directors, I will like to thank the board and management of MTN Nigeria for their support over the years and to welcome the incoming directors.
“They have a hugely exciting future in front of them, and I believe the opportunity to make the next 18 years even more successful than the last.”
The Board of MTN Nigeria Communications Plc also expressed its appreciation to the six directors for their commitment, leadership and extensive contributions to the success of the company since their appointment in 2002.
The Board wished them the very best in all their future endeavours.
The Company announced the appointment of Ernest Ndukwe as the Chairman-designate of MTN, and the addition of Directors with effect from September 2.
According to the statement, with the changes, the board will comprise Ndukwe; Moolman remains CEO; Michael Onochie Ajukwu – Independent Non-Executive Director; and Muhammad K. Ahmad, Independent Non-Executive Director.
Others listed are Andrew Alli, Non-Executive Director; Rhidwaan Gasant, Independent Non-Executive Director; Omobola Johnson, Non-Executive Director; A.B. Mahmoud, Non-Executive Director; and Ralph Mupita, Non-Executive Director.
Others also are Paul Norman, Non-Executive Director; Ifueko Okauru, Non-Executive Director; Jens Schulte-Bockum, Non-Executive Director; Rob Shuter, Non-Executive Director; and Karl Toriola, Non-Executive Director.
Acknowledging the incoming Directors, Moolman extended a warm welcome to them.
He said: “The technology industry is fast-moving, and our next 18 years offer a wealth of new and exciting opportunities as a fully digital operator.
“Their combination of extensive experience across the worlds of technology, finance, regulatory and policy development and corporate governance offers a hugely synergistic set of skills that will be of great benefit to us as we move into a new phase of growth.”