January 21, (THEWILL) – According to a report by TechCabal, Ahmad Farroukh, the Chief Executive Officer of Globacom, has stepped down from his position.
Farroukh, a seasoned executive with prior stints at MTN and Smile Communications, joined Globacom in October 2024.
While the telco saw a significant drop in its subscriber base, falling by 69.20 percent in six months to 19.15 million in September from 62.19 million in March 2024, Globacom had hired Farroukh last year to address its shortfalls in meeting regulatory standards.
According to TechCabal, Farroukh’s sudden exit is not unconnected with challenges within Globacom’s organisational structure. He has reportedly been struggling to align his management style with Globacom’s centralised operational structure, heavily influenced by founder, Mike Adenuga.
“Mike Adenuga has historically maintained tight control over operations, with minimal separation between his business interests and Globacom’s management. This centralised approach may have conflicted with Farroukh’s experience in more structured organisations, leading to his early exit”, TechCabal added.
Although Globacom has not issued any statement on the development, a top-level executive at the Nigerian Communications Commission (NCC) confirmed Farroukh’s exit.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
