African telecommunications giant MTN Group today announced the appointment of Karl Toriola as chief executive officer (CEO) of major subsidiary MTN Nigeria Communications, effective from 1 March 2021.
Toriola, current vice president for MTN Group’s West and Central Africa (WECA) region, will succeed Ferdi Moolman, who has served in the role for the past five years. Moolman will return to South Africa, where he will assume the new role of group chief risk officer.
Mr Toriola earned a Bachelor of Science degree in Electronic and Electrical Engineering from the University of Ife, a Master of Science degree in Communications Systems from the Univeristy of Wales and he has also attended the General Management Program at Harvard Business School. He has also attended several executive development courses at various institutions including Wharton Business School, the Institute of Management Development and the London Business School.
He is a Fellow of the Nigerian Society of Engineers and the Council of Registered Engineers of Nigeria (COREN) and he is also a member of the Institute of Directors. The company said that Mr Toriola’s appointment is effective March 21, 2021 in order to ensure an orderly handover.
Mr Toriola is currently Vice President: West and Central Africa excluding Nigeria and Ghana, a position he assumed in 2016. During that period, he has overseen the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon. During his tenure, the markets in under his supervision, have made significant commercial and strategic strides including the improvement of market share within this region and the development of mobile financial services.
Since joining the MTN Group in 2006, Mr Toriola has also held a number of senior operational roles incuding Chief Technical Officer of MTN Nigeria, CEO of MTN Cameroon and MTN Group Operations Executive. Mr Toriola has at various times in his career within the MTN Group, had oversight of sixtten of the group’s subsidiaries and he currently serves in several MTN country boards including MTN Nigeria.
MTN Nigeria Chairman Ernest Ndukwe 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 fourteen years and he 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.