Egyptian Tycoon Naguib Sawiris Assums CEO of OTMT

Egyptian tycoon Naguib Sawiris assumes now the position of CEO of Orascom Telecom Media and Technology.

Orascom Telecom Media and Technology – OTMT confirmed Thursday that recently-hired CEO Ahmed Abou Doma resigned from his duties as a member of the board and CEO of the company citing personal reasons.

The Board approved Abou Doma’s resignation in a meeting held on Wednesday and agreed to appoint OTMT’s executive chairman Naguib Sawiris to assume the position of CEO.

The company added in a bourse statement that Sawiris appointment as CEO in person indicates his commitment to OTMT and keenness to drive the growth of the company forward and explore its full potential.

“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,” Said Sawiris.