Telecom Egypt has appointed a new CEO and chairman after the incumbent CEO was ousted in unclear circumstances even as questions arise over the company’s mobile strategy.
The firm says Osama Yasin will be its new CEO while Mohamed Salem its new chairman. Just a few days before the announcement of the appointments, incumbet board members ousted then CEO Mohamed el-Nawawy and replaced him with Osam Yasin an existing board member but their plans were quashed after the government moved in first.
Their were media speculations that ouster was due to Egypt’s mobile operators Vodacom, Orange and Etisalat who they say were against Al-Nawawy move to launch Telecom Egypt’s mobile services but the government and the new leadership this plan is on course.
Earlier reports had claimed Al-Nawawy was working to share Infrastructure with the others and as well run the fixed line operator. Others said there were speculations of a split into two entities.
The irony is that el-Nawawy was ousted by the incumbet board members who named Osama Yasin as the new CEO and the government stamped their authority by confirming him as chief executive.
Al-Nawawy was named as the CEO of Telecom Egypt in August 2012 after the resignation of Tarek Aboualam, who reportedly held the position for just seven months. Al-Nawawy was previously senior vice president and chief strategy officer at Telcom Egypt.