Business News of Wednesday, 22 January 2025

Source: www.mynigeria.com

Ahmad Farroukh: The real reason Globacom CEO resigned after one month in office

Ahmad Farroukh Ahmad Farroukh

CEO of Nigerian telecommunications giant Globacom, Ahmad Farroukh has resigned a month from his position after he took charge at the helm in October 2024.

While his exit isn't known, TechCabal reports that it is unconnected to the challenges within the company’s organizational structure.

The report indicated that Farroukh struggled with the management set-up at Glo as he was used to working with more modern management styles from his time at MTN and Smile Communications.

His exit comes at a challenging time for the giant telco which is still yet to recover from the punishment placed on it by the Nigerian Communications Commission (NCC).

Recall that the NCC sanctioned Glo for not properly registering over 40 million of their customers’ ID numbers. Because of this mistake, Globacom lost more than half of its customers, and now it controls only 12% of Nigeria’s phone market—much less than its competitors, MTN and Airtel.

Moving forward, Globacom faces two critical challenges: finding a new CEO capable of navigating Nigeria’s competitive telecommunications market and reforming its internal structure to attract and retain top industry talent.