TIDMAAF
RNS Number : 9889W
Airtel Africa PLC
29 April 2021
Airtel Africa plc
("Airtel Africa", or "Company")
New MD and Chief Executive Officer
CFO to join the Board
London and Lagos, 29 April 2021: Airtel Africa plc ("Airtel
Africa", or the "Company"), a leading provider of
telecommunications and mobile money services, with a presence in 14
countries across Africa, announces Olusegun "Segun" Ogunsanya,
Managing Director and CEO Nigeria is to succeed Raghunath "Raghu"
Mandava, as Managing Director and Chief Executive Officer following
Raghu Mandava's informing the Board of his intention to retire.
Segun Ogunsanya will join the Board of Airtel Africa plc with
effect from 1 October 2021.
Segun Ogunsanya joined Airtel Africa in 2012 as Managing
Director and CEO Nigeria and has been responsible for the overall
management of our operations in Nigeria, our largest market in
Africa. Segun has more than 25 years' business management
experience in banking, consumer goods and telecoms. Before joining
Airtel in 2012, Segun held leadership roles at Coca-Cola in Ghana,
Nigeria, and Kenya (as MD and CEO). He has also been the Managing
Director of Nigerian Bottling Company Ltd (Coca-Cola Hellenic
owned) and Group head of retail banking operations at Ecobank
Transnational Inc, covering 28 countries in Africa. He is an
electronics engineer and also a chartered accountant.
Raghu Mandava will be retiring as Managing Director and Chief
Executive Officer, as a Director of Airtel Africa plc and as a
member of the Market Disclosure Committee on 30 September 2021.
Arrangements have been made to ensure a smooth transition of
responsibilities. Following his cessation of employment at Airtel
Africa, Mr. Mandava will be available to advise the Chairman, the
Airtel Africa Board and the Managing Director and Chief Executive
Officer for a 9-month period.
Appointment of Chief Financial Officer to the Board
Jaideep Paul, Chief Financial Officer, has been appointed as an
Executive Director and will join the Board of Airtel Africa plc
with effect from 1 June 2021.
Appointment of Managing Director and CEO Nigeria
An announcement naming Segun Ogunsanya's successor as Managing
Director and CEO Nigeria will be made soon.
Sunil Bharti Mittal, Chairman said:
"We are delighted to appoint Segun Ogunsanya as the Group's next
Chief Executive Officer. He has displayed significant drive and
energy in turning around the Nigeria business by focusing on
network modernisation, distribution, and operational efficiency. It
is this commitment, together with his industry experience,
strategic vision, constant customer focus and proven record of
delivery that will enable him to continue to deliver our strategic
objectives and to lead the Group in the next stages of its
development."
On behalf of the Board I would like to thank Raghu Mandava for
being instrumental in successfully leading and transforming Airtel
Africa into a powerhouse telecommunications and mobile money
company. Throughout that time, Raghu has worked tirelessly first to
repair and then to strengthen Airtel Africa's business and to
champion our stakeholders. As we look forward to Segun assuming his
new role in October 2021, we do so from a position of great
strength as a result of Raghu's highly effective stewardship. Raghu
will retire from the Board with our very best wishes and sincere
appreciation for everything he has achieved."
Raghu Mandava said:
"I am thankful to Airtel Africa for providing me and my team the
opportunity to transform the business and fulfil our responsibility
to the countries in which we operate. It has been a privilege to
serve in the African continent and I cherish my time here. Airtel
Africa is a remarkable business with fantastic people. Having been
at Bharti Airtel for 13 years and at Airtel Africa for 5 years as
Chief Executive Officer, I feel now is the right time to take a
sabbatical.
The last five years have been an exhilarating journey where we
have been able to turnaround and transform the business into a
strong high growth and profitable company. We have been able to
build the business with our unique management and problem solving
approach to bring in substantial performance improvement. I am very
proud of what we have achieved over the past 5 years in Africa, and
I look forward to seeing the Company make even greater progress
over the coming years."
Segun Ogunsanya said:
"Having been part of the Airtel Africa journey for the past nine
years, I am looking forward to taking up the role of Chief
Executive Officer. On a personal note, as an African, I feel
honoured to have the opportunity to lead a Group that continues to
make a difference to millions of people, bridge the digital divide
and expand financial inclusion. This is an exciting opportunity to
position Airtel Africa for further success in a dynamic continent
full of potential. I look forward to building on the achievements
of the last five years during Raghu's leadership."
There are no additional matters requiring disclosure under Rule
9.6.13 of the UK Listing Rules.
-ENDS-
Enquiries :
Airtel Africa - Investor Relations
Pier Falcione +44 7446 858 280
Morten Singleton +44 7464 830 011
Investor.relations@africa.airtel.com +44 207 493 9315
Hudson Sandler
Nick Lyon
Bertie Berger
airtelafrica@hudsonsandler.com +44 207 796 4133
About Airtel Africa
Airtel Africa is a leading provider of telecommunications and
mobile money services, with a presence in 14 countries in Africa,
primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications
solutions to its subscribers, including mobile voice and data
services as well as mobile money services both nationally and
internationally.
The Group aims to continue providing a simple and intuitive
customer experience through streamlined customer journeys.
www.airtel.africa
Notes
Segun Ogunsanya's remuneration package on appointment will be in
line with our Remuneration Policy and will be disclosed in the 2022
Remuneration Report.
Jaideep Paul's remuneration package on appointment will be in
line with our Remuneration Policy and will be disclosed no later
than the 2022 Remuneration Report.
A Section 430(2B) statement regarding the termination
arrangements of Raghu Mandava will be published on the Company's
website in due course
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END
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