MTN Board Backs CEO After Probe Into Complaint Finds No Evidence of Misconduct
By Najat Kantouar
MTN Group said its board backed the company's chief executive officer after a report on allegations against executives triggered by an anonymous complaint found no evidence of improper conduct.
The South Africa-based telecommunications group said Friday that its board held a special meeting on Sept. 4 to deliberate on the report led by an independent law firm in charge of verifying the allegations contained in the anonymous complaint against company executives.
On Sept. 1, South African newspaper Sunday Times reported that executives at the company had complained about CEO Ralph Mupita's leadership style.
MTN said attempts to engage with the complainant were unsuccessful, and that its board now considers the matter closed.
The board expressed its full support for the CEO and the group's strategy, it said.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
September 06, 2024 04:20 ET (08:20 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
Undervalued by 25% and Yielding 5%, This Stock Is a Buy
-
Can AI Predict Future Stock Returns?
-
The Best Energy Stocks to Buy Now
-
10 Undervalued Wide-Moat Stocks
-
Obesity Drugs: Can New Firms Take Market Share From Eli Lilly and Novo Nordisk?
-
New 4-Star Stocks
-
Intel Fair Value Left Unchanged Despite Qualcomm Takeover Talk
United States