“Need for Strategic Reforms”: Glo Hires Former MTN Boss as New CEO
- Globacom telecommunications company appointed Ahmad Farroukh as its new chief executive officer
- The leadership change aims to strengthen the company’s corporate governance and operational performance
- This is to align with the NCC’s recent drive for improved governance standards within the telecom industry
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Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Globacom telecommunications provider has appointed Ahmad Farroukh as its new chief executive officer.
Source: Getty Images
According to the telecom provider, the leadership change aims to strengthen the company’s corporate governance and operational performance, aligning with the Nigerian Communications Commission’s (NCC) recent drive for improved governance standards within the telecom industry.
Farroukh’s extensive experience in African telecommunications positions him as a strong candidate to guide the company through an anticipated restructuring.
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About Farroukh
Ahmad Farroukh brings over two decades of experience to Globacom. He began his career in 1995 as CEO of Investcom Group, a Lebanon-based telecom entity that was later acquired by MTN Group.
He has held several executive roles, including managing director at MTN Ghana, regional director for West Africa under Investcom, and CEO of MTN Nigeria between 2006 and 2010.
After serving as CEO of MTN South Africa in 2014, he led Mobily in Saudi Arabia – Saudi’s second-largest telecom provider – until 2017. Most recently, he served as Group CEO of Smile Communications Nigeria Limited (2019).
Farroukh’s academic background includes a master’s degree in Business Administration and Accounting from the Lebanese American University, and he is a Certified Public Accountant (CPA) from New York.
Globacom, in a statement, said the decision to appoint Farroukh “comes at a critical time as the company faces challenges with its subscriber base.”
“A recent regulatory audit by the NCC uncovered subscriber count discrepancies, which led to a sharp reduction in Globacom’s subscriber count by 69.2 per cent within six months, down from 62.19 million in March to 19.15 million in September.
“This change underscores the need for strategic reforms to restore confidence and drive growth in a competitive telecom landscape.”
Farroukh’s role will not only involve revitalising Globacom’s subscriber growth but also guiding the telco through structural adjustments.
The company’s move to constitute a board reflects a deeper commitment to fostering robust governance practices, a key aspect emphasised by the NCC.
NCC Gives New Order to MTN, Glo, others
Legit.ng reported that the Nigerian Communications Commission (NCC) has issued a new directive requiring all telecommunications companies to block stolen Subscriber Identification Module (SIM) cards within five minutes of receiving subscribers' reports.
This directive was contained in the quality of service business rules released on its website, which included several customer service enhancements to improve the overall quality of telecom services.
NCC explained that the 5-minute instruction to telcos is part of its efforts to combat the increasing incidence of SIM-related fraud and bolster mobile phone users' security across Nigeria.
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Source: Legit.ng
