Published 6th March 2013
Deputy president of South Africa’s African National Congress (ANC), Cyril Ramaphosa, has retired from his position as non-executive director and chairman of mobile operator MTN.
Ramaphosa said in December that, owing to his election to the position of ANC deputy president at the ANC’s 53rd National Conference in Mangaung‚ he had initiated a review of his interests in business.
Ramaphosa was appointed to the MTN Board on 1 October 2001 and has been serving as chairman of the MTN Board since 2002. He has also been chairman of the nominations committee as well as a member of the remuneration and human resources committee at MTN.
And MTN has released a statement on Wednesday, saying, “Shareholders are advised that Mr Cyril Ramaphosa, a non-executive director and chairman of MTN will be retiring at the forthcoming annual general meeting of shareholders on 28 May 2013.”
“Mr Ramaphosa has now informed MTN that he wishes to relinquish his position as non-executive director and chairman of MTN and will therefore not avail himself for re-election at the annual general meeting to be held on 28 May 2013,” reads the statement.
MTN last year reported that it had just over 170 million subscribers across its African and Middle East operations.
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