Recent resignations include those of executives Tim Lowry and Santie Botha. It is rumoured that Botha will join former MTN financial director Rob Nisbet in a new company.
Nhleko has hinted that the decision on his successor will be made near the end of this year. "It's a matter of urgency; we do understand that," he said.
This week MTN spokesman Nozipho January-Bardill said a decision has still to be taken.
Sifiso Dabengwa, MTN's chief operating officer, has been mentioned as the most likely candidate. But MTN has declined to comment on whether the new CEO will come from within the group.
Dabengwa, like Nhleko, is an engineer. He once headed Eskom's distribution division.
He was previously chief of MTN's Nigerian operations.
Dobek Pater, telecoms analyst at Africa Analysis, said Dabengwa would be more of a manager than a leader.
Another name mentioned is that of Nazir Patel, the current financial director.
Patel has participated in several of MTN's acquisitions and serves on a number of its subsidiary boards. He has indepth knowledge of MTN's European, Middle Eastern and African operations.
A possible external candidate is Nonkululeko Nyembezi-Heita, ArcelorMittal SA's CEO, who has telecoms experience from her days at Vodacom.
One analyst said MTN's business is at a point where the focus must shift from dealmaking to operations and decisions about a group with more than 23 operations over a footprint ranging from SA to Afghanistan, Sudan and Yemen, but with 75% of pre-tax earnings coming from three markets - Nigeria, South Africa and Iran.
Source: Business Times
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