UAE-based telco Etisalat has appointed Eissa Mohammad Al Suwaidi as its new chairman, replacing Mohammed Hassan Omran.
Suwaidi is currently chairman and director of Abu Dhabi Commercial Bank and director of several government-owned companies.
Omran…
UAE-based telco Etisalat has appointed Eissa Mohammad Al Suwaidi as its new chairman, replacing Mohammed Hassan Omran.
Suwaidi is currently chairman and director of Abu Dhabi Commercial Bank and director of several government-owned companies.
Omran served as chairman for six years and had previously been CEO of Etisalat.
The company has also named six new directors to its board: Abdulla Salem Al Dhaheri, Mubarak Rashed Al Mansouri, Shoaib Mir Hashim Khoory, Abdulla Mohammad Saeed Ghobash, Essa Abdulfattah Kazim, and Mohammad Hadi Ahmad Abdulla Al Hussaini.
In early February, the telco had appointed Saleh Al Abdooli as CEO of its domestic operations, while Saeed Al Hamli was named CEO of Etisalat Misr, the Egyptian unit of the company.
These changes come as Etisalat has reportedly been considering restructuring and outsourcing some of its operations in an attempt to cut costs.
The company reported a 23% drop in its net profit to AED5.8bn (US$1.6bn) in 2011 compared to 2010. Etisalat blamed the impairment charge on its Indian joint venture Etisalat DB for this decline.
