In a surprising turn of events, Ahmad Farroukh has stepped down as CEO of Nigerian telecommunications giant Globacom barely a month after his appointment in October 2024. Farroukh’s sudden departure has raised questions about internal challenges within the company’s organizational structure, which reportedly played a key role in his decision to leave.
Sources familiar with the situation suggest that Farroukh struggled to adapt to Globacom’s management style, which contrasts sharply with the modern approaches he experienced during his tenure at leading telecom companies like MTN and Smile Communications. The clash of operational philosophies seems to have made it difficult for the seasoned executive to implement meaningful changes in the company.
Globacom’s leadership crisis comes at a precarious time for the company, which is grappling with significant setbacks. The Nigerian Communications Commission (NCC) recently penalized the telecom operator for failing to properly register over 40 million customers’ identification numbers. This regulatory blunder had catastrophic consequences, leading to the loss of more than half of Globacom’s customer base. The company’s market share has now plummeted to just 12%, placing it far behind its rivals MTN and Airtel.
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As the dust settles, Globacom is now at a critical crossroads. The company must urgently address two pressing challenges: appointing a new CEO capable of steering the organization through Nigeria’s highly competitive telecommunications landscape and revamping its internal systems to attract and retain top-tier talent.
With its market position dwindling and public confidence shaken, the road ahead for Globacom will require bold decisions and strategic reforms. Industry observers are keenly watching how the telecom giant responds to this crisis and whether it can regain its footing in an increasingly unforgiving market.
The resignation of Ahmad Farroukh, combined with the ongoing operational hurdles, underscores the pressing need for Globacom to evolve and adapt. Will the company rise to the occasion and reclaim its position as a leader in Nigeria’s telecom industry? Time will tell.
