Mohamed bin Isa Al Khalifa, the CEO of Bahrain-based Batelco, has left the telco, according to a statement.
A supervisory committee – comprising three Batelco board members – and the chief operating officer (COO) are now leading the business until a…
Mohamed bin Isa Al Khalifa, the CEO of Bahrain-based Batelco, has left the telco, according to a statement.
A supervisory committee – comprising three Batelco board members – and the chief operating officer (COO) are now leading the business until a new CEO is recruited.
Peter Kaliaropoulos, the current CEO Strategic Assignments and former Group CEO, has been named as COO.
Both Al Khalifa and Kaliaropoulos had been appointed in their positions in late 2011.
For the three months to March 2013, the Bahraini incumbent posted a 17% drop in profits to BD13.4m (US$35.5m) compared with the same period last year.
Batelco, which faces increasing competition from Zain and Viva in its home market, has seen its profits decline over the last few years.
Against this backdrop, the telco is seeking to expand its footprint beyond Bahrain, with the acquisition of CWC’s Monaco & Islands assets for up to US$915m in early April.
