MTNN Announces Toriola As New CEO.

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The telecom giant, MTN Nigeria has appointed Karl Toriola as the new managing director to lead it through the next stages of growth in the years ahead.

He is to take over effective 1 March 2021 from the current CEO, Ferdinand Moolman who will assume a new role of MTN Group Chief Risk Officer. Moolman joined in 2002 and has held several senior positions within the Group in Nigeria and Iran.

Toriola, a fellow of the Nigerian Society of Engineers and that of Council of Registered Engineers of Nigeria, (COREN), is currently, the Vice President, West and Central Africa (WECA) excluding Nigeria and Ghana, a position he assumed in 2016 during which he has seen steady progress of the telco especially the turnaround of MTN Ivory Coast and MTN Cameroon. This period also witnessed the improvement of the market share and the development of mobile financial services.

The company secretary, Uto Ukpanah said Toriola’s appointment will take effect from 1 March 2021, the same day that Moolman will exit the telecom giant.

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Toriola joined MTN in 2006 and has held several senior operational roles including Chief Technical Officer, CEO of MTN Cameroon and MTN Group Operations Executive and has had oversight responsibility of 16 of the Group subsidiaries including MTNN.

A graduate of Electronic and Electrical Engineering from Obafemi Awolowo University, Ike-Ife, Toriola had his Masters degree in Communication Systems at the University of Wales and also attended the General Management Program at Harvard Business School in addition to several others.

MTNN Chairman, Ernest Ndukwe said Toriola’s appointment came after a thorough and rigorous selection process.

“Recognised throughout the industry as a highly experienced and well-regarded business leader, Karl has been a member of the MTN Group for over 14 years and has an intimate knowledge of the telco business. His appointment further affirms the company’s commitment to succession planning as well as retaining and developing identified high-performance executives”, noted Ndukwe.

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