Orascom Telecom Media and Technology Holding (OTMT) announced Wednesday that Ahmed Abou Doma resigned from his duties as a member of the Board of Directors and as CEO of the company for personal reasons.
Abou Doma submitted his resignation during a board meeting held on Wednesday, to be effective immediately. The Board of Directors expressed its understanding of the reasons for his resignation and approved the move.
In light of the changes, the Board of Directors discussed the structure of the Board and approved the appointment of Naguib Sawiris, Executive Chairman of the company, as Executive Chairman and CEO.
The assumption of Sawiris of the responsibilities of CEO in person indicates his commitment to OTMT and his keenness to drive the growth of the company forward and explore its full potential.
Sawiris commented on the move saying: “We are sorry that Ahmed was not able to continue with OTMT, but I am eager to take the chance to turn around this unfortunate hindrance into an opportunity to personally lead a new take-off for OTMT with an ambitious new growth strategy.
OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Pakistan, Lebanon and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM, media and technology and cable businesses.
The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The media and technology division consists of OT Ventures/Intouch Communications Service and the OT Ventures Internet portals and other ventures in Egypt, including LINK Development, ARPU+ and LINKonLINE. The cable business focuses on the management of cable networks.