Ahmad Farroukh, the newly appointed CEO of Nigerian telecommunications giant Globacom, has resigned after just one month in the role, sending shockwaves through the industry. While Globacom has yet to officially comment, reports suggest internal challenges may have contributed to his abrupt departure.
Farroukh, a seasoned telecom executive with a successful track record at MTN and Airtel, was brought in to revitalise Globacom’s fortunes. However, his tenure was short-lived, raising questions about the company’s internal dynamics. Known for its strong founder influence, Globacom operates under the close guidance of its chairman, Mike Adenuga Jr., which may have presented challenges for Farroukh’s leadership style. Executives accustomed to greater operational autonomy in their previous roles may find it difficult to navigate such a hierarchical structure.
Globacom has faced a series of setbacks in recent years. A major data breach in 2023 severely impacted customer trust and raised concerns about the company’s data security practices. Furthermore, a regulatory audit revealed a significant discrepancy in subscriber numbers, eroding market share and raising questions about the company’s transparency. Increased competition from rivals like MTN and Airtel has further intensified the pressure on Globacom to innovate and regain market share.
Farroukh’s resignation underscores the need for Globacom to address underlying operational and strategic issues. This includes enhancing corporate governance, improving data security, and regaining customer trust. The Nigerian Communications Commission (NCC) will likely play a crucial role in overseeing these developments, ensuring compliance with regulations and protecting consumer interests.
This unexpected turn of events highlights the complexities facing telecommunications companies in the dynamic Nigerian market. Globacom, a once-dominant player, must now navigate these challenges and re-establish its position as a leader in the sector.
