MTN appoints Sugentharan Perumal as acting CFO, makes other board changes

SOUTH AFRICA – MTN, a communications company, has appointed Sugentharan Perumal as acting MTN Group chief financial officer (CFO) following the appointment of the previous CFO, Ralph Mupita, as the new MTN Group CEO.

Perumal is currently acting CFO of MTN South Africa and previously held the CFO position at MTN Irancell.

A chartered accountant for over 15 years, he has also served as an external auditor of MTN Group and held various key executive and board positions within the company.

“The board is confident in the wide-ranging experience and knowledge of MTN that Sugen brings to the role,” said Mupita.

MTN also announced that Dineo Molefe has been appointed to replace Perumal as the new CFO of MTN South Africa, effective from 1 December 2020.

Molefe brings a wealth of experience to MTN, having served as CFO and held executive positions in the ICT, investment management and energy sectors, the group said in a statement.

She has held senior roles at Vodacom, Thebe Investments and the Industrial Development Corporation (IDC) and has an established track record of leading and managing complex business transformation programmes, MTN said.

Her appointment is part of changes at MTN on Mupita’s first day in the CEO suite. He is expected to continue with strategic growth outlined by his predecessor, Rob Shuter, who sent the company into the unfamiliar world of finance by placing mobile money at the centre of its plans.

Shuter is leaving MTN to head a division of Britain’s BT Telecom in March 2021 after a four-year tenure.

“We also welcome Dineo to MTN South Africa, to which she brings a wealth of experience, having held a number of executive positions in the ICT, investment management and energy sectors,” said Mupita.

“We wish both Sugen and Dineo well in their new roles.”

MTN has announced additional changes to the MTN Group board of directors as Christine Ramon is stepping down from her position as an independent non-executive director after six years in the role.

Ramon, who was also the audit committee chairperson for the past five years, will be replaced by Sindi Mabaso-Koyana both in her capacity as an independent non-executive director and as audit committee chairperson.

Mabaso-Koyana will assume her role as a non-executive director on 1 September and will take over the chairmanship of the audit committee on 1 October.

“Christine has played an invaluable role in ensuring the integrity of MTN’s corporate reporting, for which the board is grateful and wishes her well in her future endeavours,” said MTN Group chairperson Mcebisi Jonas.

“We also welcome Sindi, who the board believes to be a worthy successor in this critical role.”

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