– EGYPT, Cairo – Orascom Telecom Media and Technology Holding S.A.E. (“OTMT”) announced today that Karim Beshara, Chief Executive Officer, has submitted his resignation from his position as CEO and as a member of the Board to the Board of Directors of OTMT during its meeting held on September, 30th 2014. Mr. Beshara’s resignation is effective as of 1/10/2014. The Board has approved the appointment of Mr. Ahmed Abou Doma as the successor to this position effective 1/10/2014.
The Board of OTMT have accepted Mr. Beshara’s resignation and have extended their gratitude to Karim Beshara for taking over the responsibility of setting up the company during the period of his responsibility. Naguib Sawiris, Executive Chairman of the Board, said: “I would like to thank Karim for his hard work, which paved the way for OTMT and served as a solid foundation for this company to take off on the road of success. I would also like to welcome Ahmed Abou Doma on board of OTMT. I have great confidence in his abilities and his vision which he will surely use to build a success story for OTMT”.
From his side, Karim Beshara commented: “I am proud to have been involved in the inception of this entity poised for a bright future in new and innovative services and applications in the telecom field in our region and beyond. I thank the Board of OTMT for the trust they have put in me, and I particularly thank Mr. Sawiris for his incredible support during my working period with the company.” He also said, “As I had planned to move on to pursue new private business opportunities, I leave OTMT in very capable hands to build a new legacy of success. Also, I would like to welcome Ahmed Abou Doma and wish him success on his journey of taking the company to new heights”
Ahmed Abou Doma commented, “I would like to thank the Board of Directors of OTMT, and particularly Naguib Sawiris for putting their trust in me to take on this exciting mandate at such challenging times in the telecom industry at large and in the Egyptian economy. Moreover, I would like to thank Karim Beshara for his great effort that will be the solid foundation on which the company will pursue new heights in the world of communications and achieve further expansion and successes.”
About Orascom Telecom Media and Technology
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.
OTMT is traded on the Egyptian Stock Exchange under the symbol (OTMT.CA, OTMT EY).
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