MTN Group appoints Karl Toriola as new MTN Nigeria CEO

MTN Group has announced the appointment of Karl Toriola as the new MTN Nigeria CEO and the incumbent Ferdi Moolman, the Group Chief Risk Officer. The two new executive appointments will take effect from 1 March 2021.

Toriola first joined MTN in 2006, and has held a number of key operational roles at the company, including chief technical officer of MTN Nigeria and CEO of MTN Cameroon.

He has been vice president for MTN Group’s West and Central Africa region for the past five years. Here 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.

“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.

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. Recognised throughout the industry as a highly experienced and well regarded business leader, Karl has been a member of the MTN family for over 14 years and has an intimate understanding of the telco business. His appointment further reaffirms the company’s commitment to succession planning as well as retaining and developing identified high performing executives. 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 holds a BSc degree in Electronic and Electrical Engineering, as well as an MSc in Communication Systems. He is also a Fellow of the Nigerian Society of Engineers (FNSE) and the Council of Registered Engineers of Nigeria (COREN)

Moolman will be taking on the role of Chief Group Risk Officer, which is tasked with ensuring MTN’s enterprise-wide risk management systems are continuously strengthened and remain resilient.

Moolman joined MTN in 2002 and has held several senior positions within the group in Nigeria and in Iran.

He has spent the past five years as the CEO of MTN Nigeria and as its CFO prior to that.

MTN said that during that time, significant progress has been made in stabilising the business and setting it on a sustainable growth path.

“Ferdi has been an exemplary leader of MTN Nigeria and has put the business on a sound growth platform for the future,” said Mupita.

“He brings significant strategic, financial and operational experience to the new group risk role,” Mupita noted.

Moolman will remain on the board of MTN Nigeria and will in due course be appointed to other material subsidiary boards given his new group responsibility.

Moolman is a Chartered Account and has BCom and BCompt degrees. MTN said that both Toriola and Moolman will remain members of the group’s executive committee.