{MTN Group Ltd. said Ahmad Farroukh, the chief executive officer of the wireless carrier\u2019s South African unit, has resigned amid strikes and declining sales in the company\u2019s second-biggest market.}<\/p>\n
\u201cThis was a difficult decision to take for Ahmad, but unavoidable due to personal and family reasons,\u201d MTN CEO Sifiso Dabengwa said in an e-mailed statement on Monday, without giving further detail. The resignation is effective July 31, the company said.<\/p>\n
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\u2019s second-biggest unit in terms of subscriber numbers, after Nigeria.<\/p>\n
The shares traded 2.8 percent lower at 227 rand as of 3:06 p.m. in Johannesburg, compared with a 1.6 percent fall in the FTSE\/JSE Africa Top 40 Index. MTN is Africa\u2019s biggest mobile-phone company, with more than 229 million customers in 22 countries in Africa, Asia and the Middle East.<\/p>\n
A successor to Farroukh will be announced as soon as a new appointment is finalized, MTN said. Farroukh has held various positions including chief operating executive and Nigeria CEO since joining MTN in 2006.<\/p>\n
{{Source: Bloomberg}}<\/p>\n","protected":false},"excerpt":{"rendered":"
{MTN Group Ltd. said Ahmad Farroukh, the chief executive officer of the wireless carrier\u2019s South African unit, has resigned amid strikes and declining sales in the company\u2019s second-biggest market.} \u201cThis was a difficult decision to take for Ahmad, but unavoidable due to personal and family reasons,\u201d MTN CEO Sifiso Dabengwa said in an e-mailed statement […]<\/p>\n","protected":false},"author":3,"featured_media":2000069123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-20080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000069123,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20080.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20080.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20080.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20080.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20080.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20080.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/20080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=20080"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/20080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000069123"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=20080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=20080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=20080"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=20080"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=20080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}