22 JUNE 2016
THE BLACK MANAGEMENT FORUM (BMF) DISAPPOINTED AT THE APPOINTMENT OF ROB SHUTER AS GROUP CEO AND PRESIDENT OF THE MTN GROUP (MTN)
The Black Management Forum (BMF) today said that it views the decision by MTN Group (MTN) to appoint Rob Shuter as CEO and President of the company as a serious blow to transformation. The BMF notes that this appointment by MTN contributes to the steady decline in the number of black South Africans at the leadership helm in companies.
“The BMF’s position is informed by the clear reversal of black representation in Top JSE listed companies. There is a general unwillingness for transformation at top management level which has resulted in the decline in the number of black South African CEOs” said BMF President Mncane Mthunzi.
“MTN may put forward reasons it argues to be valid for the appointment of its new CEO, however, the company would undoubtedly agree that it has squandered a good opportunity to reaffirm its commitment to transformation. Prior to this appointment, MTN had demonstrated exemplary leadership by successively having black CEOs”, Mthunzi added.
MTN is a proud export of South Africa across the African continent and beyond; hence its appointments are of high importance. The BMF holds the view that MTN’s failure to appoint a black CEO signals that transformation is not a business imperative, which is disappointing.
It is disheartening to note that these decisions are made by the Board of Directors with the majority of black people and under black chairmanship. The lack of thoughtfulness in dealing with matters of succession in these companies is appalling.
“The BMF will also engage with the Public Investment Corporation and other shareholders of reference on their expected role and moral obligation for the appointment of black CEOs and Executives in general. These companies are owned by the public and yet they don’t reflect the demographics of our society”, Mthunzi concluded.
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About the Black Management Forum
The BMF has been in existence for 40 years and is a non-racial thought-leadership organisation with the main purpose of influencing socio-economic transformation in our country, in pursuit of socio-economic justice, fairness and equity.
The BMF stands for the development and empowerment of managerial leadership, primarily amongst black people, and the creation of managerial structures and processes that reflect the demographics, and values of the wider society.
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