Karl Olutokun Toriola, the Vice President for West and Central Africa (WECA), MTN will resume as the CEO of MTN Nigeria by 1st March 2021. He will take over from Ferdi Moolman, who has served as CEO for five years. While Karl becomes the CEO, Moolman will become the Group Chief Risk Officer for MTN.
Toriola is a graduate of Electronic and Electrical Engineering from the Obafemi Awolowo University, Nigeria. He holds a Swansea University’s Master’s degree in Communication Systems and has gone through several other institutions of higher learning. These include the London, Harvard, IMD, and Wharton Business Schools.
Toriola started his journey as the CTO of MTN Nigeria between 2006 and 2011. In between his tenor, he worked as the Non-Executive Director of MTN Benin. After a while, he moved over to MTN Cameroon and held the same office. By May 2011, he became the interim CEO for MTN Congo Brazzaville for three months before joining the board of the American Towers for Uganda and Ghana from 2013 to 2015.
Toriola also served as MTN Group Operations Executive where he managed 13 subsidiaries across Europe, Middle East, and Africa before his current appointment. In addition to his role as the VP, Toriola was a Non-Executive Director for Jumia Group.
With over 14 years of experience at MTN Group, Toriola has earned this new role. He has overseen the steady progress of several projects and has worked across several boards to drive growth in the region.
According to Ralph Mupita, the President and CEO of MTN Group, Toriola brings extensive technical and commercial experience, as well as a deep understanding of the Nigerian market for the role of CEO. “Karl started his MTN career in his home country at MTN Nigeria 14 years ago and has all the attributes necessary to lead this very important business into the future,” he added.