Home Big Story Former MTN Nigeria CFO quits amid top management changes

Former MTN Nigeria CFO quits amid top management changes

Former MTN Nigeria CFO quits amid top management changes
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Brett Goschen, the Group CFO at MTN Group of South Africa and ex-CFO of MTN Nigeria, is leaving the mobile phone company by September this year, the mobile phone group has said today. 

His departure is one of the high profile exits at the MTN Group following the N1.04 trillion fine imposed its local business unit, MTN Nigeria, last year by the Nigerian government.

MTN Group announced today that effective September 30, the former MTN Nigeria CFO will be leaving the mobile phone company “to pursue other interests.”

The mobile phone group also said that Goschen will be resigning from the MTN Group board of directors as an executive director on the same day after over 14 years service to the company.

CEO, MTN Nigeria, Ferdi Moolman Photo credit: MTN
CEO, MTN Nigeria, Ferdi Moolman Photo credit: MTN

“We thank Brett for his considerable contribution to the Group over a period of 14 years and wish him well in his new endeavours”, the mobile phone company said.

Gunter Engling will assume the position of Acting Group CFO on Brett’s departure, until a permanent CFO is appointed, the mobile phone company said.

Gunter is a chartered accountant who is currently CEO of MTN Rwanda. He has held many positions in MTN, more relevantly Group Executive Finance reporting to the Group CFO.

He was responsible for the management and coordination of all statutory accounting and reporting to all stakeholders, including the Group Audit committee and the Board.

Gunter has also held the positions of General Manager Finance of MTN Nigeria and CFO of MTN Ghana.

According to the mobile phone company, “Gunter has extensive knowledge and understanding of MTN Group’s financial matters, workings and stewardship and will have the benefit of a close working relationship with Brett until his departure at the end of September 2016. MTN is confident that the process of reviewing its capacity, resources, governance and management structures will be substantially completed by year end and will leave the Group well positioned to successfully face a highly competitive environment and take advantage of new opportunities.”

MTN Group also said that Stephen van Coller has been appointed as Vice President of Strategy and Mergers & Acquisitions, effective 1 October 2016.

While Coller will be the fourth Vice President of the Group, the other three having responsibility for the geographic operating regions of MTN, the mobile phone company said it expects to “announce a Deputy Head of Mergers & Acquisitions shortly.”

Stephen is a qualified chartered accountant. He has over two decades of experience in Financial Services, 10 years at Deutsche Bank (DB) from 1996 as a Managing Director of Investment Banking, an executive committee member and foundation trustee for DB in South Africa.

The last 10 years were at Barclays Africa Group where he has held the positions of head of Primary Markets: Absa Capital, and more recently CEO of the Corporate and Investment Bank (CIB), overseeing over R250 billion in assets spanned across 13 African countries.

Coller was also part of the Barclays plc EMEA CIB executive committee. He serves as a member of the World Economic Forum, represented on the Global Agenda Council (GAC) on Values as well as serving on the GAC committee on the Future of Banking.

“MTN will continue its efforts to develop participation in the enterprise sector and adjacent sectors, such as financial services and media and entertainment”, the mobile phone group said while hoping that as the head of Strategy and Mergers & Acquisitions, “we are confident that Stephen’s experience will be instrumental in helping the Group realise its ambitions and commitments.”

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