MTN Nigeria Appoints Karl Toriola As New CEO

MTN Nigeria has announced the appointment of Mr. Karl Toriola as the CEO designate.

MTN Group also announced it appointed Ferdi Moolman as MTN Group chief risk officer, a new group executive committee (exco) position.

Both are effective from 1 March 2021, providing enough time for an orderly handover.

In a statement on its website, MTN Group said Toriola is the current vice president for MTN Group’s West and Central Africa (WECA) region. He will succeed Moolman, who has served MTN Nigeria in the role for the past five years.

Moolman will return to South Africa, where he will assume the new role of group chief risk officer.

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Toriola has a BSc Hons in Electronic and Electrical Engineering and MSc in Communication Systems. In his five years as VP of MTN’s WECA region, he oversaw the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon over the past two years.

In addition, the WECA markets have made significant commercial and strategic strides, including the improvement of market share and the development of mobile financial services. The latter in particular is an important driver of the group’s medium- to long-term growth strategy.

Since joining the group in 2006, 48-year-old Toriola has also held a number of senior operational roles at MTN, including chief technical officer of MTN Nigeria and CEO of MTN Cameroon. He is also a board member on a number of companies within the group, including MTN Nigeria. Karl’s successor as VP for WECA will be announced after the group strategy review is completed by the end of November 2020.

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“Karl brings extensive technical and commercial experience, as well as a deep understanding of the Nigeria market to the role,” commented MTN Group President and CEO Ralph Mupita.

“Karl started his MTN career in his home country at MTN Nigeria 14 years’ ago and has all the attributes necessary to lead this very important business into the future.”


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