Egypt’s Orascom Telecom appoints new CEO
Egyptian mobile operator Orascom Telecom appointed the former head of its Bangladeshi business Ahmed Abou Doma as chief executive, the company said on Monday.
Abou Doma, who replaces Khaled Bichara, had also worked as the head of marketing at Orascom’s Egyptian mobile venture Mobinil, the firm said in a statement.
It did not give a reason for the change.
Banglalink, Orascom’s third-biggest unit by revenue, brought in about $457 million last year, up from about $351 million in 2009. The subsidiary has over 19 million mobile subscribers.
Bichara was appointed CEO in November 2009, replacing billionaire telecoms tycoon Naguib Sawiris, who took the position of executive chairman.
Russia’s third-largest mobile operator Vimpelcom (VIP.N: Quote) last month closed a deal worth more than $6 billion for Sawiris’ investment vehicle Wind Telecom, including majority stakes in Orascom and Italy’s Wind. [ID:nLDE72G0QR]
Orascom Telecom fully or partly owns operators in Algeria, Pakistan, North Korea and a variety of sub-Saharan African countries as well as Mobinil, which it runs jointly with France Telecom (FTE.PA: Quote). (Reporting by Alexander Dziadosz; Writing by Thomas Pfeiffer; Editing by David Holmes)