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Tullow Oil names former MTN boss Phuthuma Nhleko as chairman-designate

By Reuters

<div> <p>By Yadarisa Shabong</p> <p> -Africa-focused Tullow Oil Plc on Monday named Phuthuma Nhleko, former boss of South African telecoms company <span class="caps">MTN</span> Group, as chairman-designate.</p> <p>Nhleko, a South African national, will replace Dorothy Thompson who is retiring by the end of 2021.</p> <p>Tullow earlier this year completed a financial overhaul, with a $1.8 billion bond and a new business plan under boss Rahul Dhir.</p> <p>“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.</p> <p>Nhleko is also due to become chairman of the Johannesburg Stock Exchange Ltd after the company’s annual general meeting in June.</p> <p>He is also chairman 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 <span class="caps">IHS</span> Towers. </p> <p>“I am very pleased to have been appointed as chairman-designate of Tullow,” Nhleko said in a statement.</p> <p>“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.”</p> <p>Tullow’s shares were up 1.7% by 0839 <span class="caps">GMT</span>, with the broader market also up on Monday. </p> </div>