Bahrain's Batelco appoints new COO and committee to lead the group

Tuesday, May 21, 2013

DUBAI (Zawya Dow Jones)--Bahrain Telecommunications Company, known as Batelco, on Tuesday said it has appointed a new chief operating officer and a supervisory committee to lead the telco's operations until a new group chief executive is found.

The telco named Peter Kaliaropoulos as chief operating officer and three board members to an interim supervisory committee, it said in an emailed statement. Shaikh Mohamed bin Isa Al Khalifa was chief executive of the group and Mr. Kaliaropoulos was chief executive of strategic assignments, according to Batelco's website.

"Due to the separation between Batelco Group CEO and the company, Batelco's chairman Shaikh Hamad bin Abdulla Al Khalifa has announced that a supervisory committee and chief operating officer have been appointed to lead the operation until a new group chief executive officer is appointed," the statement said, without providing further detail.

Batelco made a first-quarter net profit of 13.4 million Bahraini dinars ($35.5 million), down 17% compared with a profit of BHD16.1 million a year earlier, the company said earlier this month.

The telco's shares ended trading Tuesday at BHD0.37.

Write to Rory Jones at rory.jones@dowjones.com

(END) Dow Jones Newswires

21-05-13 1301GMT