(Adds JSE comment, shares)
By Yadarisa Shabong
Oct 25 (Reuters) - Africa-focused Tullow Oil Plc on
Monday named Phuthuma Nhleko, former boss of South African
telecoms company MTN Group, as chairman-designate.
Nhleko, a South African national, will replace Dorothy
Thompson who is retiring by the end of 2021.
Tullow earlier this year completed a financial overhaul,
with a $1.8 billion 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 chairman of the Johannesburg
Stock Exchange Ltd after the company's annual general
meeting in June.
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 IHS
Towers.
"I am very pleased to have been appointed as
chairman-designate of Tullow," 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."
Tullow's shares were up 1.7% by 0839 GMT, with the broader
market also up on Monday.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Anil
D'Silva, Rashmi Aich and Jane Merriman)