Monday, Oct 01, 2012
(This article was first published Sunday.)
DUBAI (Zawya Dow Jones)--Telecom Egypt, the country's sole fixed line provider, Sunday named Omar El Sheikh as its new non-executive chairman, following the retirement of Akil Beshir last week.
In a statement to the Egyptian bourse, the telco said the appointment will take effect on Oct. 1.
Telecom Egypt's board also confirmed Mohamed Elnawawy as managing director and chief executive officer, roles he had filled on an interim basis since mid-August.
Mr. Beshir's departure last week came after chief executive officer and managing director Tarek Aboualam resigned in July after less than six moths in the job. In May, Telecom Egypt said that it halved the size of its executive management team to just six members in a push for more efficiency.
Telecom Egypt shares last traded 1.5% lower at EGP14.32 on Sunday.
Write to Shereen El Gazzar at Shereen.elgazzar@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
01-10-12 0344GMT
