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4-Traders Homepage  >  Shares  >  CAIRO AND ALEXANDRIA STOCK EXCHANGE  >  Telecom Egypt Company    ETEL   EGS48031C016

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Telecom Egypt : TE reshuffles board, reappoints dismissed officials

09/21/2015 | 05:02pm US/Eastern

By Mohamed Alaa El-Din

Telecom Egypt's (TE) new Board of Directors will work to complete its strategy and current plans rather than starting from scratch, said CEO Osama Yassin.

Yassin told Daily News Egypt that the company’s current strategy is focused on meeting the needs of customers and improving the level of services provided, whether for voice or data transfer through the investment entity, TE Data.

The company will also work to improve and develop infrastructure through continuing the replacement of copper cables with fibre optic ones, according to Yassin.

TE’s Board of Directors had a meeting on Sunday to choose a new Chairman to succeed Mohamed Salem, who handed in his resignation last Saturday. The board agreed to appoint Walid Gad as Chairman of TE.

Gad was appointed as a member of TE’s board in August 2012. He has over 45 years of experience in the field of information technology and management, during which he held several leading and administrative positions within a number of local and regional companies. Gad holds a degree in electronics engineering from Cairo University.

The Board of Directors also decided to appoint Tarek Aboualam, the former CEO of TE, as the new Chairman of TE Data. Hassan Helmy and Refaat Guinedy were also appointed on TE’s board. Ahmed Osama and Tamer Gadallah have been nominated as managing directors.

Former Minister of Communications, Khaled Negm, had previously dismissed a number of members of TE’s board members. This decision was based on a complaint filed by the officials against Negm at the cabinet.

Those who filed the complaint included Tamer Gadallah and Ahmed Osama. However, the current Board of Directors reappointed them after Mohamed Salem resigned from chairmanship of TE and TE Data.

(c) 2015 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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