Globacom’s CEO steps down amid regulatory pressures as Ahmad Farroukh, who assumed the role in October 2024 at Nigeria’s leading telecommunications company, Globacom, resigns unexpectedly.
While the company hasn’t officially commented, reports suggest that Farroukh faced difficulties adapting to Globacom’s centralized management style, which is heavily influenced by its founder, Mike Adenuga.
This resignation highlights ongoing governance challenges within Globacom. Adenuga’s tight control over operations has been a hallmark of the company’s structure, potentially clashing with Farroukh’s experience in more structured corporate environments.
Compounding these internal issues, Globacom has faced significant regulatory penalties. The Nigerian Communications Commission (NCC) has previously fined the company for non-compliance with mobile number portability regulations, imposing a ₦22 million fine in 2016.
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Such sanctions have impacted Globacom’s market position, raising concerns about its competitiveness against rivals like MTN and Airtel.
Farroukh’s abrupt departure mirrors a broader trend of leadership changes in Africa’s telecom sector. MTN Group, for instance, has recently announced key executive appointments as part of its “Ambition 2025” strategy, aiming to align leadership with evolving market demands.
To navigate these challenges, Globacom needs to address both its internal governance issues and external regulatory compliance. Appointing a CEO capable of operating within its unique corporate culture, while also modernizing its management practices, will be crucial.
Additionally, rebuilding consumer trust and ensuring adherence to regulatory standards are essential steps toward regaining market share and stability in Nigeria’s competitive telecom landscape.
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