New Chief Executive Officer
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.
Airtel Africa - Investor Relations
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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.
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