MTN’s Nhleko calls it a day

South Africa’s MTN Group today announced that Phuthuma Nhleko, its president and CEO will not be renewing his long-term contract of employment which ends on June 30, 2010. Consequently he will stand down but has agreed to continue in his current role up to March 2011.

During the remainder of his tenure Nhleko has agreed to particularly focus on achieving certain key objectives including facilitating a seamless transition once his successor has been appointed.

“I have given this decision very careful consideration. I feel it is the right time to secure the next generation of leadership for the group – and the right time for me personally to start thinking about the next phase of my career”, Nhleko said.