MTN Group has appointed the recent past Chief Financial Officer of Millicom International Cellular (Tigo), Tim Pennington to its board of directors.
Pennington, who becomes a non-executive member of MTN Group board, served as CFO at Millicom from 2014 until his resignation in March 2022.
MTN said he played an “instrumental role in Millicom’s transformation into a leading provider of fixed and mobile broadband services”.
“Under his leadership as CFO, the company successfully accomplished several key projects including Millicom’s exit from Africa, its Nasdaq listing in the US and the acquisition of various operations,” a statement from MTN said.
Pennington will likely serve as a member of MTN Group’s finance and investment committee, risk and compliance committee, and audit committee. He has a BA (hons) in economics from the University of Manchester. He currently serves as a non-executive director on the board of London-listed Euromoney Institutional Investor.
“Tim is commercially driven with extensive telecommunications experience as well as considerable corporate finance and strategic knowledge spanning several global jurisdictions,” MTN said.
“The chairman [Mcebisi Jonas] and the board believe that his extensive experience in transformational mergers and acquisitions and his depth of experience in capital allocation is invaluable.”
