Wataniya CEO resigns; deputy takes helm
Kuwait, June 12, 2012
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.
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. - Reuters
More IT & Telecommunications Stories
- Menatelecom expands bill paying network
- Du joins new global cable consortium
- Kuwait moves to create telecoms watchdog
- Batelco backs Royal Fund for Martyrs
- Egypt's Global Telecom posts $749m Q4 loss
- Red Hat launches open source BPM suite
- Batelco announces new board
- Batelco offers improved broadband
- You don't own phone numbers, warns TRA
- Tech giants back top Qatar ICT event
- Du to provide wifi access in public areas
- Zain finalises $800m, five-year loan facility
- Ooredoo Q4 net profit falls 36pc to $140m
- Mobily, Etisalat team up for LTE roaming
- Batelco approves $84m dividends for 2013
- Etisalat Q4 profit rises 70pc to $394m
- Kenya telecom firm to join Etisalat SmartHub
- Aruba appoints new sales director
- Du enters $1.17 billion financing deals
- VIVA extends 4G LTE offer
- Batelco to update students with latest technologies
- Etisalat SmartHub seals IPX agreement
- Etisalat picks Alcatel for LTE network expansion
- Boeing, QCRI host machine learning forum
- Mobily provides 4G LTE international roaming
- Viva Kuwait, Huawei to set up innovation centre
- Etisalat, Airtel deal to boost network services
- Batelco offers 4G LTE backup solution
- Arbor unveils ‘Peakflow’ solution
- Etisalat launches enterprise mobility services