MTN Nigeria appoints Karl Toriola as CEO designate

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The Management of MTN Nigeria Communications Plc has announced the appointment of Mr Karl Olukotun Toriola as the CEO designate

This information is contained in a note sent to the floor of the Nigerian Stock Exchange on 26th October 2020 and signed by MTN Nigeria Plc Secretary, Uto Ukpanah. 

The note partly reads: 

MTN Nigeria is pleased to inform The Nigerian Stock Exchange (The Exchange), the investing public and other stakeholders, of the appointment of Mr. Karl Toriola as the CEO designate. His appointment is effective 19 March 2021, providing enough time for an orderly handover.

Since joining the Group in 2006, Mr Toriola has also held a number of senior operational roles including Chief Technical Officer of MTN Nigeria, CEO of MTN Cameroon and MTN Group Operations Executive.

Mr. Toriola has at various times in his career in MTN Group, had oversight responsibility of 16 of the Group’s subsidiaries and served on various MTN boards, including MTN Nigeria.

Speaking on the appointment, Dr Ernest Ndukwe OFR, Chairman of MTN Nigeria said, “After a thorough and rigorous selection process, we are delighted to welcome Karl back to MTN Nigeria. Karl Toriola is recognized throughout the industry as a highly experienced and well-regarded business leader.

“With his rich credentials, I am personally pleased that Mr Karl Toriola is well-suited to lead MTN Nigeria’s Executive Management team through the next stages of growth in the years ahead.” 

Toriola obtained a B.Sc. in Electronic and Electrical Engineering from the University of Ife, Ile-Ife in 1994. He also holds an M.Sc. in Communication Systems, University of Wales, Swansea, United Kingdom. He is an alumnus of the Harvard Business School, USA, London Business School, UK, and the Institute of Management Development (IMD), Switzerland, and has attended various other executive development programs with INSEAD and Wharton Business Schools

The current CEO of MTN Nigeria, Mr. Ferdinand Moolman, will exit this role with effect from 19 March 2021 and assume a new role as MTN Group Chief Risk Officer. He will remain on the Board of MTN Nigeria in his new role as the MTN Group Chief Risk Officer.

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