MTN in $1 million pay dispute with former CEO of Nigerian and SA business units

[Jan]

Former MTN South Africa CEO in $1 million pay dispute with the network operator

Former MTN South Africa CEO Ahmad Farroukh is locked in a legal dispute with his former employer over more than $1 million (R18.8 million) in severance pay.

Farroukh, who now serves as group CEO of Smile Communications, said the dispute arose when MTN refused to honour an agreement regarding “end-of-service” payments.

 

[r00igev@@r]

Please call me.

 

[Jake45]

"End-of-service payments were structured similarly to regular severance — employees who left the company got one month’s salary for every year’s service."


If I understand this correctly he would have been earning an average of $52000 per month i.e. $1000000/19 years.
These executives sure get paid generously !

 

[Peon]

Between the lines? MTN feels he screwed up in Nigeria with the RICA clone regulations?

 

[Johand]

This sounds highly suspect to me. When a company buys another company they normalize the contracts with employees with the provision that the employee cannot be worse of. I would think that MTN would replace the weird payment structure with a normal provident or pension fund...

It would be next to impossible for large companies to manage a million different contract variations.

 

[dj_jyno]

Welcome to MTN, where we even screw our CEOs.

 

[bixt]

This guy appears to have a solid case at least from the info in the article and is appears due what he Is owed.

Maketecom - not so much!

 

[bixt]

Another observation, just me or is this uncompensated CEO guy butt ugly? Same as Shameel.