As protests and unrest continue in Egypt, despite the departure of former President Hosni Mubarak, the telecommunications sector in the country continues to face an uphill battle. The most recent victim of that struggle was Telecom Egypt’s Ahmed Fathy el-Kassass, who has announced his retirement from the company’s board of directors.
He had been appointed to the board in 2007 after a lengthy military career. Kassass had help top positions in the Egyptian Signal Corps.
Replacing Kassass on the board will be Mohamed Nabil el-Maadawy Youssef. His appointment will take place immediately, TE said in a statement on Thursday.
According to Ahmed Naguib, a telecom and securities analyst at CI Capital in Cairo, the shake-up is a step in the right direction for Egypt’s state-owned company.
“We have seen the company becoming stagnate in recent months, even before the revolution began, so getting new faces and ideas into the mix will really help buttress new efforts to see the company move forward in its efforts to expand,” he said.
By Staff
