MTN Group’s board of directors has decided to extend CEO Ralph Mupita’s contract for an additional five years, pushing its expiration from September 2025 to August 2030.
Board chairman Mcebisi Jonas emphasized the importance of Mupita’s leadership during challenging global and regional uncertainties. “This extension will provide crucial continuity as MTN navigates complex geopolitical dynamics, market fluctuations, and macroeconomic challenges that impact our business,” he stated in a message to investors.
While the specific terms of the new contract have not been disclosed, Jonas highlighted that this decision will enable MTN to maintain its focus on strategic priorities and commitments to shareholders and stakeholders alike.
Mupita has been leading MTN since August 2019, when he succeeded Rob Shuter, who had served for over five years. Prior to his appointment as CEO, Mupita was the company’s Chief Financial Officer from April 2017, where he played a key role in shaping the group’s strategy, managing capital allocation, overseeing financial performance, and resolving complex regulatory issues.
Before joining MTN, Ralph Mupita was the CEO of Emerging Markets at Old Mutual plc, which operates across 19 countries in Africa, Latin America, and Asia. His extensive career at Old Mutual included roles such as Strategy Director and Managing Director of Retail Affluent.
In addition to his corporate experience, Mupita has served as an engineer and worked as a volunteer fundraiser with LEAP Science and Maths School. He holds a Bachelor’s degree in Civil Engineering and a Master’s degree in Business Administration from the University of Cape Town, along with a qualification from Harvard Business School’s Graduate Management Programme.
This contract extension follows a recent board decision to close an investigation into Mupita after finding no evidence of misconduct. This inquiry was prompted by a whistleblower complaint alleging preferential treatment towards a female executive, which had led to unrest among some executives who threatened to resign over the matter.
In light of these concerns, Mupita addressed employees, assuring them of the company’s governance processes to handle such issues, particularly regarding senior leadership. The board is actively verifying the allegations raised and will communicate their findings with stakeholders.
In a communication to shareholders via the Johannesburg Stock Exchange (JSE), the board reaffirmed its support for Mupita and MTN’s overall strategy. They stated that an independent law firm’s report, which looked into the anonymous complaint, found no evidence of misconduct. Consequently, the board has deemed the matter resolved and closed.
MTN continues to move forward, with its leadership focused on steering the company through these turbulent times.
