The government of Egypt, being Telecom Egypt’s major shareholder with an ownership of 80%, has announced changing some of its representatives in Telecom Egypt’s Board of Directors by a decree from the Egyptian Prime Minister with immediate effect and for the remaining period of Board of Directors. The Board of Directors held a meeting today and appointed Eng. Adel Hamed as the new Managing Director and Chief Executive Officer. The decision comes in line with the Egyptian government’s plan to speed up the national digital transformation initiative, where Telecom Egypt has a strategic role in facilitating and accelerating such transformation for the country. In addition, the new revenue streams from the project are expected to boost the company’s organic growth potential. Hamed’s appointment comes as a result of the trust in Telecom Egypt’s internally developed caliber and their execution ability as the next phase of growth requires the complete awareness of the company’s operational details.
The new members of the BoD representing the government include:
Major General\Tarek Mohamed Abdollah Al Zaher replacing Major General \Ashraf Mohamed Said Halim Mohamed Farid
Eng\ Adel Hamed Ibrahim Gadalla replacing Eng\ Ahmed Mohamed Hamdy El Beheiry
Eng\ Hossam Aballah Shaaban Mousa El-Gamal replacing Eng\ Amr Abdel Rasheed Mansour
Magued Osman, Chairman of Telecom Egypt, said:
“The Board of Directors has chosen Adel Hamed as Chief Executive Officer due to his long-established experience and proven track record to steer the company towards digital transformation. Hamed’s background and key role in Telecom Egypt’s domestic wholesale and international cable systems as the Chief International & Wholesale Officer position him as the ideal candidate to capitalize on Telecom Egypt’s assets to implement the digital transformation strategy. I would like to thank Telecom Egypt’s former directors of the board for their efforts in adding value to the company and Mr. Ahmed El Beheiry for leading the company successfully in its transformation to a total telecom operator.”
Adel Hamed, Managing Director & Chief Executive Officer, added:
“I would like to thank the Chairman and the Board of Directors for the faith they have placed in me and I look forward to dedicating all my energy to drive this already successful company to its potential. This is an important time in the evolution of the telecom sector and I shall be relying on a great team at Telecom Egypt to make sure that we seize the opportunities and build on our strength. I would also like to thank the Executive Management of Telecom Egypt and all former CEOs, in particular Mr. Ahmed El Beheiry, who has made great efforts to develop the company across its business units. This puts a great responsibility on my shoulders to continue on the efforts of others in light of Telecom Egypt’s long-standing strategy.”
Source: Press Release