Omantel CEO resigns
A local telecommunications consultant speculated that Wahaibi had been unhappy about the government's decision in December 2008 to postpone plans to sell off 25% of its 70% share in the company.
Omantel (Oman Telecommunications) bought 65% of Pakistan's Worldcall Telecom a year ago, since when Worldcall's share price has dropped sharply. In addition, regulatory and legal issues in Pakistan have prevented Omantel from taking full charge of its investment. Reuters reported that "Omantel's net profit fell 66.9 percent in the fourth quarter" because of losses related to Worldcall.
Dr Amer al-Rawas, Chief Operating Officer of Omantel, is now acting chief executive.
Comments
newsbriefs wrote:
muscati wrote:
Well the people in the company used to blame company's delayed introduction of new technologies on the board's resistance to approving any project that involves large amounts of money and on the government's slow processes. Now the company's CEO has resigned and become the chairman of the board, and the undersec of the ministry. If they still don't improve, what will they blame?
newsbriefs wrote:
Times of Oman 31st March confirms appointment of Dr Amer bin Awadh Al Rawas as Omantel's new chief executive officer, but not the appointment of Dr Mohd Al Wahaibi as Chairman. As far as I know, Engineer Sultan bin Hamdoun Al Harthy, remains chairman of Omantel.
Omantel's board of directors approved a 100% cash dividend at 100 baizas a share at the company AGM on 30th March. The company has also declared an impairment loss of RO18.88 million on its acquisition of Pakistan's WorldCall.
mohamed wrote:
I hope to take advantage of the site
Times of Oman announced on 30th March 2009 that Dr Mohammed bin Ali bin Mohammed Al Wohaibi had been appointed as undersecretary for communications at the Ministry of Transport and Communications by Royal Decree 18/2009. Other information states that Dr. Amer Al Rawas has been confirmed as CEO, and Dr. Mohd Al Wohaibi as the company's chairman. Presumably as both chairman of Omantel and undersecretary of transport and communications, Dr Al-Wohaibi (Wahaibi) could push for more privatisation of Omantel? If so, resigning as CEO can hardly have been due to pressure of work.