Tullow Oil names Phuthuma Nhleko, MTN's former chief executive, as chairperson-designate for its operations

Africa-focused Tullow Oil yesterday named Phuthuma Nhleko, the former boss of South African telecoms company MTN Group, as chairperson-designate.

Nhleko, a South African national, will replace Dorothy Thompson who is retiring by the end of this year.

Tullow earlier this year completed a financial overhaul, with a $1.8 billion (about R26.5bn) bond and a new business plan under boss Rahul Dhir.

“Phuthuma will play an important part in supporting Tullow’s ambitions to be a partner of choice for governments and our industry peers, as the African oil and gas sector evolves over the coming decade,” said Thompson.

Nhleko is also due to become chairperson of the JSE after the company’s annual general meeting in June.

He is also chairperson of Phembani Group, an investment firm that he founded in 1994, and is a non-executive director at South African downstream energy company Engen Petroleum and IHS Towers.

“I am very pleased to have been appointed,” Nhleko said in a statement. “I believe Tullow is uniquely placed to develop the oil and gas resources of its host countries efficiently and safely while minimising its environmental impact.” - Reuters