• Thursday, March 28, 2024
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BusinessDay

Meet Karl Toriola, MTN Nigeria’s new CEO

Karl Toriola

MTN Nigeria has named Karl Olutokun Toriola as its next Chief Executive Officer (CEO), effective from March 2021.

Toriola is the second Nigerian to be named as CEO of the Nigerian unit of MTN Group after Mike Ikpoki in 2013.

Toriola replaces Ferdi Moolman who has been CEO since Ikpoki’s resignation in 2015.

Toriola has worked with the MTN Group over the last 14 years he is very vast in business analysis, telecommunications, corporate finance, human resource management, risk management, and even engineering.

He bagged his Bachelor’s degree in Electrical Engineering from Obafemi Awolowo university, Nigeria in 1994 and went on to obtain his Master’s degree in Communication Systems from Swansea University, United Kingdom, in 1996.

Toriola’s drive for excellence has pushed him to further acquire more certificates in corporate finance, human resource management, and breakthrough programs for senior executives from London business School, Harvard business School, and IMD business School, respectively.

He is also an Alumnus of the prestigious Wharton business school and the European Institute of business administration (INSEAD) where he obtained certificates in strategic risk management, and finance for executives.

Toriola’s career in the Information and Communications Technology (ICT) industry started in 1995 when he joined Ericsson Switzerland and he moved to Ericsson Nigeria in the year 2000 to become the support and integration manager.

Toriola joined Econet (now known as Airtel) in 2003 to become their Chief Technical Ofiicer (CTO) and left there after three years as the Chief Operations Officer (COO) IN 2006.

His journey with MTN Group commenced in November 2006 when he resumed as the Chief Technical Officer (CTO), Network Group and held this position until 2011.

As CTO, he was responsible for technology strategy, network operations, network quality, capital projects and network rollout, access planning, core planning, technical training and technical finance.

He won the Best CTO Award 2009 and Best Network Award in 2009.

Toriola became the CEO of MTN Cameroon in December 2011 and was credited for leading tremendous improvement during his stint.

Some of his achievements as CEO of MTN Cameroon were; growth in market share from 51 percent to 62 percent, successful negotiation for the renewal of the license and addition of 3G, 4G, and fiber license in 2015, and successful negotiation of the transfer of part ownership West Africa Cable System (WACS) submarine to the government of Cameroon.

Toriola was appointed as the Group Operating Executive, MTN Group in April 2015, and he had direct responsibility for 16 MTN Subsidiaries across Europe, Middle East, and Africa.

In January 2016, he became the Vice President (VP), West and Central Africa (WECA) for MTN Group, excluding Nigeria and Ghana and has held that position to date.

So far, as VP of MTN’s WECA region, Toriola has overseen the steady progress of the operating companies in the region and has made notable commercial and strategic strides.

Toriola is a fellow of the Nigerian Society of Engineers, a member of the Council of Registered Engineers of Nigeria (COREN), and holds a distinguished honorary award from his Alma matter, Obafemi Awolowo University.