Directorate Change

Airtel Africa PLC

02 January 2024

 

The following amendment has been made to the Directorate Change announcement released on 02 January 2024 at 0700 under RNS No 2837Y

Updated to include Sunil Taldar's experience at Cadbury China and Mondelez India and Indonesia

All other details remain unchanged.

The full amended text is shown below.

Airtel Africa plc

("Airtel Africa", or the "Group")

Directorate Change

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

AIRTEL AFRICA PLC CHIEF EXECUTIVE TO RETIRE AND APPOINTMENT OF SUCCESSOR CHIEF EXECUTIVE

London and Lagos, 2 January 2024: Airtel Africa plc, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the retirement of Chief Executive Officer Olusegun "Segun" Ogunsanya and the appointment of Sunil Taldar, who joined Airtel Africa in October 2023 as Director - Transformation, as Chief Executive Officer (CEO). Following a transition period, Mr. Taldar will be appointed to the Board as an Executive Director and assume the role of CEO on 1 July 2024, at which time Segun will retire from the Board and the Company.

As Director - Transformation, Mr. Taldar holds responsibility for leading and overseeing key strategic initiatives aimed at transforming Airtel Africa's business and operations. Mr. Taldar has more than 30 years' business management experience in the FMCG and Telecommunications sectors, including 15 years' experience as a member of various Management Boards including Bharti Airtel, where he was Director, Market Operations, Cadbury China and Mondelez India and Indonesia.

Building on the work undertaken during his time as CEO, including the launch of the Company's first Sustainability Strategy, and given his deep experience across Africa including running Airtel Africa's Nigeria telecommunications and mobile money operations in Nigeria, Mr. Ogunsanya will become the Airtel Africa Charitable Foundation's inaugural Chair. The Charitable Foundation will accelerate the Company's commitment to its sustainability initiatives and charitable operations across its locations in Africa. The Charitable Foundation's objectives will focus on promoting digital inclusion, financial inclusion, access to education, and environmental protection. The Charitable Foundation will have its own separate legal personality and be independent of the Airtel Africa Group.

Following his retirement from Airtel Africa, Mr. Ogunsanya will also be available to advise the Chairman, the Airtel Africa Board and Chief Executive Officer for a 12-month period.

Sunil Bharti Mittal, Chairman of Airtel Africa plc said: "On behalf of the Board, I would like to thank Segun Ogunsanya for his commitment and significant contribution to Airtel Africa plc as Chief Executive and before that as Managing Director and CEO of Nigeria, our largest market in Africa. Under Segun's leadership, Airtel Africa has maintained double-digit revenue growth and continued to deliver new, industry-leading products to our customers across Africa."

"I am pleased Segun has agreed, following his retirement, to assume the new role as Chair of the Airtel Africa Charitable Foundation, where he will bring his visionary leadership to this new philanthropic initiative to advance development and prosperity across Africa. Segun will retire from the Board with our very best wishes and sincere appreciation for everything he has achieved."

"The Board is delighted to appoint Sunil Taldar as the Group's next Chief Executive Officer. His industry experience, strategic vision, constant customer focus and proven record of delivery will enable him to deliver our strategic objectives and to lead the Group in the next stages of its development."

"In respect of the transition period, Segun continues to lead the business very effectively as seen in our financial results. Given that Sunil Taldar has already joined the Group, we are confident that we will have an orderly leadership transition and handover of responsibilities."

Segun Ogunsanya, Chief Executive said: "It has been a privilege to spend over 12 years of my career at Airtel Africa and I am proud of what we have delivered for customers across Africa. We continue to transform lives. Now is the right time to handover to a new leader who can build on Airtel Africa's strengths and deliver on the significant opportunities ahead as I pursue my renewed interest in the empowerment of Africans through digital and financial inclusion in a different capacity beyond the boundaries of for-profit organizations. This has been my ambition after a successful career spanning over 35 years in banking, FMCG and telecommunications".

There are no additional matters requiring disclosure under Rule 9.6.13 of the UK Listing Rules.

-ENDS-

Person responsible

The person responsible for arranging the release of this announcement on behalf of Airtel Africa plc is Simon O'Hara, Group Company Secretary (Tel: [phone]).

Enquiries

Airtel Africa - Investor Relations Pier Falcione Alastair Jones [e-mail]	[phone] [phone] [phone]
Hudson Sandler Nick Lyon Emily Dillon [e-mail]	[phone]

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.

www.airtel.africa

Notes

Sunil Taldar's remuneration package on appointment will be in line with our Remuneration Policy and will be disclosed in the 2024 Directors' Remuneration Report.

A Section 430(2B) statement regarding the termination arrangements of Segun Ogunsanya will be published on the Company's website in due course and, to the extent finalised before the publication of the 2024 Directors' Remuneration Report in this as well.

 

END