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Saudi Arabian operator appoints new leader after ending management agreement with Etisalat.
Mobily this week hired a new CEO tasked with leading the Saudi Arabian operator into a phase of growth and expansion.
Ahmed Abdelsalam Abdelrahman has previously been managing director of Global Telecom Holding – formerly known as Orascom Telecom Holding – as well as EVP of VimpelCom for Africa and Asia, and CEO of Bangalink. Abdelsalam also worked for IBM between 1993 and 1996.
He replaces Ahmad Farroukh, who only joined Mobily from MTN South Africa in July 2015.
"The change in the company management came as a result of its transition from the re-stabilisation phase to the growth and expansion phase," said Mobily, in a statement on Monday.
"Ahmad Farroukh with his expertise in the areas of telecommunications and accounting succeeded in re-stabilising the company," the operator said. "Ahmed Abdelsalam with his experience in the telecommunications sector, sales and marketing will lead the company in its growth and expansion phase."
Farroukh was brought in to replace Khalid Omar Al Kaf, who was suspended by Mobily in November 2014 amid an investigation into its accounting practices. He was formally removed from his position in February 2015 and replaced on an interim basis by deputy CEO Serkan Okandan.
Abdelsalam’s appointment became effective on Tuesday, and comes just days after Mobily ended its management agreement with major shareholder, U.A.E.-based Etisalat.
The deal expired on 23 December and has not been renewed since Mobily has achieved "a level of growth that enables it to work with more flexibility," Mobily said, in a separate statement in late December.
"Mobily and Etisalat Group are currently working on developing a service and technical support agreement," Mobily continued. "Upon finalising the agreement, Mobily will announce the details, along with any material financial impact that might arise."
