Orascom Telecom Media and Technology Holding announced Thursday that Ahmed Abou Doma has stepped down as a member of the Board of Directors and as Chief Executive Officer of the company for personal reasons and that Naguib Sawiris will assume the responsibilities of CEO.
"The Board of Directors expressed its understanding of the reasons for the resignation and approved the resignation of Doma from his membership of the Board of Directors and as CEO of the company," the company said in a statement. "The assumption of Sawiris of the responsibilities of CEO in person indicates his commitment to OTMT and his keenness to drive the growth of the company forward and explore its full potential."
“We are sorry that Ahmed was not able to continue with OTMT, but I am eager to take the chance to turn around this unfortunate hindrance into an opportunity to personally lead a new take-off for OTMT with an ambitious new growth strategy,” Sawiris said.
It is worth mentioning that Sawiris founded Orascom Telecom Holding and led it to become the leading regional telecom player until the much publicized merger deal with Vimpelcom Ltd, creating the world’s sixth largest mobile telecommunications provider in April 2011.
As part of the merger deal, Sawiris has spun off Orascom Telecom’s non-GSM operations and Egyptian-based telecom assets into OTMT, of which he is currently executive chairman.
