Globacom has appointed Ahmad Farrouk as the new Chief Executive Officer
Glo has now confirmed the appointment of the telecom industry expert as its new chief executive officer.
This appointment indicates that this leadership transition is intended to enhance its corporate governance and operational efficiency, which aligns with the Nigerian Communications Commission’s recent initiatives to elevate governance standards within the telecommunications sector.
Farrouk was a former CEO of MTN Nigeria between 2006 and 2010.
With a wealth of experience in African telecommunications, Farroukh is well-positioned to steer the company through an expected restructuring process.
Bringing over 20 years of industry experience to his new role, Ahmad Farroukh began his career in 1995 as the CEO of Investcom Group, a telecom company based in Lebanon that MTN Group subsequently acquired.
He has held various executive positions throughout his career, including managing director at MTN Ghana, regional director for West Africa at Investcom, and CEO of MTN Nigeria from 2006 to 2010.
In 2014, he took on the CEO role at MTN South Africa and later led Mobily, Saudi Arabia’s second-largest telecom provider, until 2017. Most recently, he served as Group CEO of Smile Communications Nigeria Limited in 2019.
Farroukh holds a master’s degree in Business Administration and Accounting from the Lebanese American University and is a Certified Public Accountant licensed in New York.
In its statement, Globacom noted that 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 percent 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 revitalizing 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 emphasized by the NCC.
