MTN CEO Resigns

“This was a difficult decision to take for Ahmad, but unavoidable due topersonal and family reasons,” says MTN Group President and CEO, Sifiso Dabengwa.

However, the decline in revenue of the Telecom giant, especially in Nigeria, has been gossiped as the cause of his leave. Nigeria used to generate huge income for MTN until recent competitions from Nigeria's indigenous Telecom company, Globalcom. 

Mr. Farroukh joined MTN in 2006, with the acquisition of Investcom. He has fulfilled several rolesduring his tenure with the Group. Farroukh is a former CEO of MTN Nigeria, and served in a similar role at MTN Ghana. Before assuming the role of Group Chief Operating Executive, he was Vice-President of the West and Central Africa (WECA) region.

A successor to Farroukh will be announced as soon as the new appointment is finalised.

“On behalf of the MTN leadership, we thank Ahmad for his contribution and wish him success with his future endeavours,” concludes Dabengwa.