Telecom Egypt appoints a new chairman

Egypt: Telecom Egypt Appoints A New Chairman Cairo, 30 September 2012: Telecom Egypt (TE), today announced the appointment of Omar El Sheikh as non-Executive Chairman following the decision of Eng. Beshir to retire. Eng. El Sheikh’s appointment becomes effective 1 October 2012.
Eng. El Sheikh has extensive industry experience stretching over 36 years with a particular focus on telecommunications and information technology. Much of his career has been spent at leading m ultinational and technology focused companies including Vodafone, the Alcatel group, NCR Corporation, and Eastman Kodak. He has extensive experience working in Egypt, as well as internationally, and has a significant understanding of the nature, culture, business practices and conditions of the markets in the Middle East.
Commenting on the news, Eng.Hany Mahmoud, Minister of Communications and Information Technology, said:
“Eng. El Sheikh brings extensive experience of the global telecommunications and information technology industry to Telecom Egypt and is ideally placed to oversee the continued success of the business.”
Eng. El Sheikh, commenting on the matter, said:
“Telecom Egypt has a proud history and an exciting future. I am both honored and pleased to accept the Chairmanship of its board. TE is well positioned to continue to deliver excellent services to its domestic and international customers, to provide regular returns to its shareholders and to offer a compelling and forward- looking place to work for its employees.”
Separately, the board of Telecom Egypt has also approved and formalized the previously announced appointment of Eng. Mohamed Amin El-Nawawy to the position of Chief Executive Officer & Managing Director.
– Ends – For Further Information: Investor Relations Contact Ahmed Labib
Director of Investment & Investor Relations
Tel: +202 3131 5225
Fax: +202 3131 6115
E-mail: investor.relations@telecomegypt.com
Notes to Editors:
Within this statement, we may make forward-looking statements regarding future events or the future performance of the Company. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. When relying on forward-looking statements, you should carefully consider the political, economic, social and legal environment in which Telecom Egypt operates. Such forward-looking statements speak only as of the time of this release today. Accordingly, Telecom Egypt does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise other than as required by applicable laws, the Listing Rules or Prospectus Rules of the United Kingdom Listing Authority, the Egyptian Financial Supervisory Authority or The Egyptian Exchange. The documents filed from time to time with these authorities may identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.
About Telecom Egypt
Telecom Egypt (TE), Egypt’s incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization (ARENTO). The Company is the largest provider of fixed-line services in the Middle East and Africa with 7.6 million subscribers as at 30 June 2012.
TE provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Telecom Egypt’s services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.
TE currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.95{e1f18614b95d3cd6e4b3128e1cd15d99b042a60a5a19c19b7a8e07e7495efa10} holding in Vodafone Egypt, one of the three existing Egyptian mobile operators. TE’s shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on the Egyptian Exchange and the London Stock Exchange.