AMMAN (JT) - Zain Group announced on Wednesday the appointment of Abdel Malik Al Jaber as chief executive officer of the Zain Levant Region made up of Zain Jordan and Paltel - soon be rebranded to Zain Palestine with immediate effect.
The appointment follows the mutual share swap agreement between Zain Group and Paltel signed on May 18, 2009; and the approval of shareholders at Paltel's extraordinary general assembly on June 11, 2009, a statement received by The Jordan Times indicated yesterday.
In addition to his new role as CEO of Zain Levant, Jaber has been appointed acting general manager of Zain Jordan, effective July 15, 2009.
Prior to his new post at Zain he was appointed vice chairman of the board and CEO of the Paltel Group in 2003 during which he was able to restructure the company towards increased profits and sustained innovation and social responsibility. He increased the company's profits from $15 million in 2003 to $100 million in 2005.
In 2005, Jaber helped found VTEL Holdings, a UAE-based company with $1 billion in capital comprised of high net worth investors from Palestine and the Arab world, according to the statement.
Besides being a current member of the Arab Business Council and the World Economic Forum, the Arab Technology Forum, and the Young Presidents Organisation (YPO), he is Founder of the Young Arab Leaders Chapter in Palestine.
Jaber is a graduate of Jordan University of Science and Technology, McGill University - Canada, North Western University -Kellogg School of Business Administration, USA, and International School of Management, Paris. He holds a DBA, MBA as well as an BEng and MSC in engineering.
Having led Zain Jordan for the last 14 months, the outgoing CEO of Zain Jordan, Ahmed Al Shatti, will now take on a new senior role within Zain Group.
Saad Al Barrak, CEO of Zain Group, praised Al Shatti's efforts and the vital role he played at Zain in Jordan.
He added that during Shatti's tenure, the company maintained its leadership in the Jordanian market and received various awards, including Al Hussein Decoration for Distinguished Contribution, First Order, in recognition for the company's role in serving the local community and its distinguished corporate social responsibility policy, according to the statement.
The award was the first of its kind to be received by a telecommunications company in Jordan.
Barrak noted that the strategic changes of forming a Zain Levant regional focus and its new management structure are in line with its expansion strategy and its ambition to be a global top ten mobile telecom operator by 2011.
This regional team will also be responsible for future acquisitions in the Levant. Zain Group currently has a commercial presence in 24 countries, serving 65 million active customers. Once finalised, the merger will see an additional 1.5 million mobile customers from Palestine join Zain family.
Welcoming the new CEO of Zain Levant to the role, Al Barrak said: "Dr Abdel Malik Al Jaber is a distinguished leader who has taken the Paltel Group to new heights making the operation a world-class outfit in all facets of its business."
Jaber said: "We are now part of one of the most advanced telecommunications markets in the region. The company will maintain its current momentum. It will continue to place a premium on service and building solid ties within the local community."
© Jordan Times 2009
