Saudi’s Mobily names former MTN exec Farroukh as CEO

Etihad Etisalat (Mobily), Saudi Arabia’s number two telecommunications operator, has named Ahmad Farroukh as its new chief executive effective from Sunday, it said in a statement.

Farroukh was previously head of MTN Group’s South African business, but resigned last week due to personal and family reasons. Farroukh would leave by the end of July, MTN said, at a time when MTN staff in the country have been striking for nearly two months for higher pay.

Farroukh brings “a proven track record of success in the area of financial management, audit and operations”, Mobily said in its bourse filing.

Mobily’s chairman was quoted by newspaper Asharq Al-Awsat last week as saying the company would be soon naming a new CEO. The operator removed previous CEO Khalid al-Kaf in February, who had been suspended since November when the company first revealed significant accounting issues.

Deputy CEO Serkan Okandan has been serving as temporary head since November.