Reports indicate that Globacom is set to appoint Ahmad Farroukh, a former CEO of MTN Nigeria, as its new chief executive. This move marks a significant leadership change for Nigeria’s third-largest mobile network operator and the first time it will have new leadership since its launch in 2003 by Mike Adenuga.
Although an official announcement from Globacom is pending, sources suggest that the Nigerian Communications Commission (NCC) has been notified about the upcoming changes. The company has also formed a new board and received approval from the regulator.
There has been no response from Globacom to requests for comments at this time.
Farroukh’s telecommunications career began in 1995 as CEO of Investcom Group in Lebanon, which was later acquired by MTN Group. Over the years, he has held various leadership positions within the MTN Group in Ghana, Nigeria, and South Africa, as well as in Saudi Arabia with Mobily. His most recent role was as Group CEO of Smile Communications Nigeria Limited before his upcoming appointment at Globacom.
Farroukh holds a Master’s in Business Administration and Accounting from the Lebanese American University and is a Certified Public Accountant (CPA) from New York, USA.
Upon assuming the role of CEO at Globacom, Farroukh will face the challenge of rebuilding the network after losing a significant number of subscribers due to an industry-wide audit by the NCC. The network currently has 19.1 million subscribers, representing a 12.39% share of Nigeria’s telecom market. An official announcement regarding Farroukh’s appointment is expected in the coming days.