Globacom has announced the appointment of telecom veteran Ahmad Farroukh as its new chief executive officer.
The telecoms firm said the appointment 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 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 was 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.
In a statement, Globacom 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,” the statement added.
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.
Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.