(MENAFN - Arab Times) The chief executive of Wataniya, Kuwait's No. 2 telecoms operator, has resigned, parent company Qatar Telecom (Qtel) said on Tuesday.
Qtel said Scott Gegenheimer left to "pursue other opportunities" and his deputy Abdulaziz Fakhroo has been promoted to acting chief executive. Gegenheimer joined Wataniya in 2002 and became CEO in 2008. Fakhroo was appointed deputy chief executive earlier this year. Qtel owns a 52.5 percent stake in Wataniya, which is also known as National Mobile Telecommunications Co.
Earnings
Wataniya has operations in Kuwait, Tunisia, Algeria, the Palestinian Territories, Saudi Arabia and the Maldives. In April, it reported a 90-percent drop in first-quarter net profit, with earnings from the prior-year period boosted by a one-off fair value gain. Wataniya's shares, which hit a 15-week low on June 3, ended flat on Kuwait's bourse before Gegenheimer's resignation was announced.
Eng Fakhroo was named as Deputy CEO for Wataniya Kuwait this year, following a distinguished career at Qtel Qatar, where he served as Executive Director for Technology and Senior Manager for Wireless Networks, playing a key role in the commercial and technical development of many cornerstone technologies.
He has been with Qtel for more than 20 years and has been a member of the Executive Management team in Qatar. In addition to his role at Qtel Qatar, Eng Fakhroo has also held the position of Chairman of GSM Arab World.
Gegenheimer decided to leave Wataniya Kuwait to pursue other opportunities, following a career that saw him join the company in 2002 as Chief Financial Officer of subsidiary Tunisiana, before being named as General Manager and Chief Executive Officer of Wataniya Telecom in January 2008. Gegenheimer has contributed to the success and growth of the company through his sound leadership and Wataniya wishes him all the best for his future endeavours.
Wataniya conveys its full support and confidence in Abdulaziz Fakhroo, the new Acting CEO. Wataniya Kuwait is a key operation for NMTC and we look forward to the continued success of the company under his leadership.
