MTN Nigeria Appoints Karl Toriola As New CEO

MTN appoints new CEO Mr Mark Toriola whose appointment will be effective from 2021.

MTN Nigeria is pleased to inform The Nigerian Stock Exchange (The Exchange), the investing public and other stakeholders of the appointment of Mr. Karl Toriola as the CEO designate. His appointment is effective 1st March 2021, providing enough time for an orderly handover.

Mr. Toriola is currently the Vice President: West and Central Africa (WECA), 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.

Karl Toriola increased his stake in the telecoms provider via the purchase 920,000 ordinary shares, as disclosed on the Nigeria Stock Exchange platform.

A break down of the aggregate information showed Toriola acquired 920,000 ordinary shares at N118 per share on June 25, 2020, in Lagos, Nigeria.