UAE telecom firm Du names acting exec after CEO quits

Telecom operator also appoints new managing director

A man walks past a Du telecommunications advertisement in Deira in Dubai.

A man walks past a Du telecommunications advertisement in Deira in Dubai.

REUTERS/Jumana El-Heloueh

Emirates Integrated Telecommunications Company (Du) has appointed an acting chief executive officer following the departure of Johan Dennelind.

Dennelind has recently quit the company after seven months of holding his position.

In a meeting on Thursday, Du’s board of directors appointed Fahad Al Hassawi as acting CEO, the firm said in a bourse filing on Sunday.

The company also named Ahmad Julfar, a telecom veteran and one of the board members of the firm, as the managing director.

A former group CEO of Nordic telecoms operator Telia Company, Dennilend had assumed his post early this year.

The telecommunications firm has been impacted by the coronavirus pandemic, with its revenues for the first half of the year falling by 38 percent.

Its net profit stood at 570 million UAE dirhams ($155 million), compared to 913.3 million dirhams in the same period a year earlier.

Mohamed Al Hussaini, Chairman of Du, had said they remain committed to continue investing in their business to sustain “long-term value creation.”

“Despite a challenging environment that adversely impacted our results for the quarter, we continued our transformation program, particularly on the digital front,” Al Hussaini aid.

(Reporting by Cleofe Maceda; editing by Mily Chakrabarty)

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© ZAWYA 2020

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