Telecom Egypt Coalition: Board’s Resignation “Mass Escape”
The coalition of Telecom Egypt Co. (ETEL.CA) described the resignation of all board’s members yesterday, because of their fears of accountability as there are new president and government, as mass escape.
The coalition’s members said the board’s amendments came at the expected time of accountability. They explained that the forthcoming period will witness amendments in the administration that compatible with the company’s state; describing it as retreating in the presence of two successive administrations headed by Eng. Mohamed Abdel Reheem and Eng. Tarek Abou Alam.
The company’s employees called for organizing sit-in in order to demand 8% increase, plus the private bonus estimated with 15%.
On the other hand, an official source in Telecom Egypt Co. said the employees exaggerated when the described the resignation as mass escape; affirming that the company has affected by the CEO’s resignation.
Eng. Tarek Abou Alam, CEO and MD of Telecom Egypt, resigned for personal reasons, starting from August 11th, 2012; coinciding with the end of the current board period.
Mohamed Samy Saad Zaghloul also resigned for personal reasons, starting from June 25th, 2012.
