Bloomberg reports that the resignation will take effect on July 31, 2015.
“This was a difficult decision to take for Ahmad, but unavoidable due to personal and family reasons,” says MTN Group President and CEO, Sifiso Dabengwa. “On behalf of the MTN leadership, we thank Ahmad for his contribution and wish him success with his future endeavours.”
Mr. Farroukh joined MTN in 2006 and has been the Chief Executive Officer of South African Operations since August 2014. Prior to his appointment he was was Chief Operating Executive of MTN Group.
MTN’s operations in South Africa has suffered a few hitches due to protests by the company’s workers’ union over unpaid salaries and bonuses. The company’s profit has also dipped in recent times due to stiff competition and price cuts by regulators.
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