MTN Group appoints a new CEO, Ralph Mupita as Rob Shuter steps down
Starting September 1, 2020, Ralph Mupita — the current chief financial officer of MTN Group will become the new group president and CEO of the company.
The current CEO, Rob Shuter, will be stepping down from his executive responsibilities on August 31, 2020, while Ralph will take over from Rob who has served in the same capacity for five years. However, until the end of Rob’s fixed-term contract in March 2021, he will provide support for the appointed CEO.
Since April 2017, Ralph, an engineering graduate from the University of Cape Town has served as MTN Group CFO. According to the company, he has played a major role in the development and execution of the group’s strategy, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters.
Note that before joining the company, Ralph served as the CEO of Old Mutual Emerging Markets for five years, handling over R1 trillion of customer assets under management at the time.
Commenting on his appointment, Ralph said he looks forward to working with the group board and executive committee to drive growth and unlock value for shareholders and broader stakeholders.
He further asserted that “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.”
MTN Group Chairman, Mcebisi Jonas also has this to say about Ralph’s appointment.
“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.”
MTN stated that an update regarding the group CFO position will be made on or before September 1 2020.
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