MTN Group Ltd. said Chief Executive Officer Sifiso Dabengwa resigned from Africa’s biggest mobile-phone company following a $5.2 billion fine by Nigerian regulators related to unregistered subscribers, according to a Bloomberg report.
Non-Executive Chairman Phuthuma Nhleko has agreed to act as executive chairman for a maximum period of six months while the company identifies a successor to Dabengwa, Johannesburg-based MTN said in a statement on Monday. Dabengwa resigned over the weekend after consultation with the board and his financial compensation hasn’t been resolved, spokesman Chris Maroleng said by phone.
