Ahmad Farroukh, appointed as Chief Executive Officer of Nigerian telecommunications giant Globacom in October 2024, has resigned after just one month in the role. While the company has yet to release an official statement, multiple industry sources suggest that Farroukh’s departure stems from significant challenges within Globacom’s organisational structure.
Farroukh, a seasoned telecom executive with extensive experience across Africa and the Middle East, including leadership roles at MTN Nigeria and MTN South Africa, was brought on board to drive Globacom’s expansion and innovation in an increasingly competitive market. However, his brief tenure indicates potential misalignments between his management approach and Globacom’s existing operational framework.
This leadership change occurs at a critical time for Globacom, which has been grappling with regulatory pressures. In late 2024, the Nigerian Communications Commission (NCC) penalised the company for non-compliance in registering over 40 million subscribers without valid National Identification Numbers (NIN). This compliance breach led to a significant loss of market share, with Globacom’s share of the Nigerian mobile market shrinking by approximately 60%, leaving it with just 12%.
Industry analysts suggest that Farroukh’s resignation could be linked to internal corporate dynamics or strategic disagreements, though no official confirmation has been made. The company’s centralised decision-making process, heavily influenced by founder Mike Adenuga, may have conflicted with Farroukh’s experience in more structured organisations, leading to his early exit.
Globacom now faces the urgent task of addressing its internal and external challenges to stabilise operations. Key priorities include appointing a new CEO capable of navigating Nigeria’s competitive telecom landscape and overhauling its governance structures to attract and retain top talent. The company’s response to these challenges will be pivotal in determining its future trajectory in the rapidly evolving telecommunications sector.
