MTN Nigeria has announced the appointment of Karl Toriola as the new Chief Executive Officer (CEO) of the company. The appointment was announced via a statement by the company on Monday, and is planned to takes effect from March 1, 2021.

Karl Toriola has served as the Vice President for the West and Central Africa (WECA) region for MTN Group.

The newly appointed CEO will take over from Ferdi Moolman, who – for the past five years – has served as CEO of MTN Nigeria.

After expiration of his tenure as CEO, Ferdi Moolman will return to South Africa, where he will assume the new role of Group Chief Risk Officer.

According to the disclosure notice by MTN Nigeria, and reported by Premium Times, “Mr Toriola, in his five years as VP of MTN’s WECA region, has overseen 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 Toriola has a B.Sc (Hons) in Electronic and Electrical Engineering, as well as a M.Sc in Communication Systems.

Speaking about the newly appointed CEO, Ralph Mupita, MTN Group President and CEO, noted that:

“Toriola brings extensive technical and commercial experience, as well as a deep understanding of the Nigeria market to the role.”

Ralph Mupita further expanded that:

“Toriola 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.”

Outgoing CEO, Fendi Moolman, has served in different capacity under MTN group. He has held several senior positions within MTN group in Nigeria and in Iran. Prior to being CEO of MTN Nigeria, Moolman served as Chief Financial Officer (CFO).

The telecommunications giant noted that “Ferdi 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.”