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- The Chief Executive Officer of MTN Group Ltd (MTN South Africa) Ahmad Farroukh, has resigned amid strikes and declining sales in the company’s second-biggest market.
- Ahmad Farroukh has held various positions including chief operating executive and Nigeria CEO since joining MTN in 2006
- MTN, based in Johannesburg, has been battling labor union-led strikes over pay and bonuses in its home market, where sales have declined due to competition and price cuts imposed by regulators. South Africa is the company’s second-biggest unit in terms of subscriber numbers, after Nigeria.
- A successor to Farroukh will be announced as soon as a new appointment is finalized, MTN said. .
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Cornerstone Insurance shareholders approve business split, name change to Cornerstone Holdings Plc
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