Last checked at 3 Nov 2008 13:48
Telecom Egypt Announces Changes to Management Team
Cairo, 3 November 2008: Telecom Egypt (TE) (Ticker: ETEL.CA; TEEG.LN), today announced the appointment of Emad Elazhary as Vice President & Chief Commercial Officer (CCO), responsible for the commercial affairs in TE and its Internet and data subsidiary - TE Data.
TE have also confirmed Elbadawy's successor in the appointment of Sayed Elgharabawy, who will now be TE's Vice President for Project Planning.
Emad Elazhary has over 15 years experience in the telecommunications and information technology field where he founded and co-founded several successful telecom service providers in the region. Elazhary's employment relationship with the Telecom Egypt Group goes back to 2001 when TE established its Internet and data subsidiary (TE Data) and appointed Elazhary to act as its Vice Chairman and Managing Director in charge of starting up and managing the newly formed company.
In addition to achieving a leading position for TE Data in the Egyptian market, Elazhary successfully expanded TE Data's business to Jordan, the Gulf, and Palestine through wholly owned subsidiaries, representative offices and professional services agreements. In 2005, Elazhary was seconded by Telecom Egypt to act as the CEO of its Algerian joint venture with Orascom Telecom where he was successful in managing the launch of the fixed line services in Algeria before being recalled again by TE to continue in his previous capacity as the Vice Chairman and Managing Director of TE Data.
Prior to joining the Telecom Egypt Group, Elazhary consulted for Telecom Egypt and the Egyptian National Telecommunication Regulatory Authority (NTRA) where he participated in defining and setting the regulatory framework and the licensing regime for ISPs and Data Operators in Egypt. In 1992, Elazhary also co-founded InTouch Communications Services as the first ISP in Egypt and managed with his partners to position the company as the leading ISP in Egypt before finally being acquired by another telecom operator. From 1990 till 1994 Elazhary worked for IBM WTC as a Systems Engineer. Among his primary projects he headed a team from IBM to work on a joint development project with Microsoft in Microsoft's headquarters in Redmond. Elazhary graduated from the American University in Cairo in 1989, where he majored in Computer Science and minored in Electronics.
Prior to joining Telecom Egypt. Sayed Elgharabawy was advisor to the Executive President of the National Telecommunications Regulatory Authority (NTRA). From 1997 until 2007, he was Country Manager for Motorola Egypt and Government Relations Manager for Egypt and the Middle East.
Elgharabawy participated in the drafting of the new Telecom Law that was enacted in 2003 primarily concerned with spectrum chapter of the law, in addition to participating in the development of the national telecommunications plan issued by the Ministry of Communications and Information Technology (MCIT) in 2001 and its revision in 2006 as well as several offer initiatives such as the Universal Service Program, now run by the NTRA, and the Wimax Regulatory Framework as well as the new suburbs regulatory framework which are still under development. Prior to this Elgharabawy had various positions with IBM and NCR. Elgharabawy graduated from Ain Shams University with a bachelor of science in telecommunications in 1987.
Commenting on Elazhary and Elgharabawy's appointment, Akil Beshir, Chairman and CEO of Telecom Egypt, said:
"Emad has been instrumental in TE Data becoming the leading Internet and data operator in the highly competitive Egyptian market; capturing 56% of all retail broadband subscribers as at the end of Q2 2008. He has also been the driving force behind TE Data's regional expansion into neighboring countries including Jordan.
"Our aim moving forward is to integrate further TE's voice and data businesses to offer dual and triple play services. I trust that in his new capacity as the chief commercial officer of Telecom Egypt Emad will make a significant contribution to our delivery against this strategic objective.
"A key pillar of our future strategy is to continue to identify and invest in complementary projects and adjacent businesses, where our deep experience of the Egyptian market can be leveraged. As Emad embarks on this new challenge, it was critical for us to ensure that project planning is in the hands of someone with the right experience and I have every faith in the ability of Sayed Elgharabawy to take up the challenge."
With these new appointments, Telecom Egypt's Senior Management Team, will be as follows:
Akil Hamed Beshir, Chairman & CEO
Mohammed Abdel Rehim Hassanein, Vice President; Operations & Maintenance
Tarek Tantawy, CFA, Vice President & Chief Financial Officer
Mohamed Elnawawy, Vice President; International, Wholesale & Regulatory Affairs
Emad Elazhary, Vice President & Chief Commercial Officer
Abdel Hamid Mahmoud Hamdy, Vice President; Human Resources & Administrative Affairs
Sanaa Soliman, Vice President; Follow up & Regional Expansion
Sayed Dessouky, Vice President; Projects' Implementation
Khaled Marmoush, Vice President; Information Technology
Sayed Elgharabawy, Vice President; Project Planning
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For further information: Investor Relations Contacts
Ahmed Fathallah Alia A. Allouba
Director of Investments & IR Investor Relations Manager
Tel: +202 31316699 Tel: +202 31315217
Fax: +202 31316115 Fax: +202 31316116
E-mail: investor.relations@telecomegypt.com.eg
Notes to Editors:
Within this statement, we may make forward-looking statements regarding future events or the future performance of the Company. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. When relying on forward-looking statements, you should carefully consider the political, economic, social and legal environment in which Telecom Egypt operates. Such forward-looking statements speak only as of the time of this release today. Accordingly, Telecom Egypt does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise other than as required by applicable laws, the Listing Rules or Prospectus Rules of the United Kingdom Listing Authority, the Egyptian Capital Markets Authority or the Cairo and Alexandria Stock Exchange. The documents filed from time to time with these authorities may identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.
About Telecom Egypt
Telecom Egypt (TE), Egypt's incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization (ARENTO). The Company is the largest provider of fixed-line services in the Middle East and Africa with 11.27 million subscribers as at the end of June 2008.
TE provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Telecom Egypt's services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.
TE currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.95% holding in Vodafone Egypt, one of the three existing Egyptian mobile operators.
TE's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on the Cairo and Alexandria Stock Exchanges and the London Stock Exchange.
About TE Data
TE Data was established in 2001 by Telecom Egypt to function as its data communications and Internet arm. The company is the fastest growing data communications and Internet services provider and the broadband access market leader in Egypt. Currently, with operations in Egypt and Jordan and ambitious plans in other parts of the MENA region, TE Data's portfolio includes narrowband and broadband Internet access services, managed dedicated Internet access services, IP VPN connectivity services, global connectivity services in addition to consulting and professional services. TE Data's portfolio of services covers the communications needs of all whether consumers, small and medium enterprises, large corporations, and Internet Service Providers.