Mon, 21 Jun 2021

Former MTN boss Phuthuma Nhleko to chair JSE board

11 May 2021, 04:10 GMT+10

Former MTN CEO Phuthuma Nhleko has been appointed to the JSE board as an independent non-executive director with effect from July, the local bourse announced on Monday.

Nhleko will also serve as the board chairperson-designate, a position he will assume in May 2020. The current chairperson of the JSE board is Nonkululeko Nyembezi-Heita.

"He has also accepted the board's invitation to serve as chairperson-designate and will assume the role of JSE board chairman, with effect from the annual general meeting to be held in May 2022," said a statement.

Nhleko, an experienced executive, is the chairperson and co-founder of Phembani Group, an investment company with interests in oil, gas, and mineral resources. The JSE said he will also serve in the board's committees for remuneration and nominations.

A civil engineer by training, Nhleko has a range of private sector experience and his time as MTN CEO between 2002 and 2011 saw the company scale up its aggressive expansion into the continent, elevating it to Africa's largest mobile telecommunications operator.

He also served as MTN's chairperson.

Source: News24

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