In October, MTN Group and its former CEO, Ahmad Farroukh, are set to appear in court due to their inability to settle a longstanding dispute regarding his severance package.
Throughout his impressive nine-year tenure with the company, Mr. Farroukh held the positions of CEO at MTN Nigeria, MTN South Africa, and Group Chief Operating Executive (GCOE), overseeing a total of 19 operations.
Under his leadership, MTN experienced an extraordinary surge in its subscriber base, growing from nine million to an impressive 40 million.
Sources who are privy to the dispute between the company and its former chief executive, according to The Nation on Monday, said the amount of severance package in contention was seven digits of dollars.
Six years ago, Farroukh dragged MTN Group to court over his severance package. The case however suffered delays.
Farroukh’s lawyers alleged that MTN might be deliberately prolonging the case with a view to wearing him down.
Efforts to reach Farroukh and MTN for comments were unsuccessful, the newspaper said.
The case has been scheduled for hearing on October 16.
