Nawras replaces CEO with immediate effect
Dubai, October 23, 2013
Nawras, Oman's No.2 telecom operator, appointed Greg Young as chief executive with immediate effect on Wednesday, replacing veteran CEO Ross Cormack.
Young is a telecom profession with 29 years of experience in the wireless and telecommunications industry and was formerly CEO of Sri Lanka Telecom, according to a Nawras statement to the Oman bourse.
Nawras posted an 11.1 per cent rise in third-quarter profit shortly before it announced Young's appointment, which may mark a turnaround in the company's performance after it reported falling profits in the preceding six quarters.
Amjad Mohamed Al Busaidi, chairman, said: “I and the entire board of directors are delighted to welcome Greg to the Nawras family and to Oman. I am confident that he will continue our unwavering commitment to investing in the best available technology for the benefit of our customers.
“We also take this opportunity to thank our departing CEO, Ross Cormack, for creating a leading telecoms business in Oman and nurturing what has grown into a great company. Ross has been an inspirational leader to the Nawras family and was instrumental in achieving many significant milestones. We wish Ross and his family all the best in his new role and we are also pleased that he will continue to play a role in the Ooredoo group.”
Nawras, which ended Oman Telecommunication Co's (Omantel) monopoly in 2005, is majority-owned by Qatar's Ooredoo. Cormack will take up another leading role in the group, the statement said. – Reuters and TradeArabia News Service