Telenor appoints Pakistan CEO

Norwegian operator group Telenor has appointed Michael Patrick Foley as CEO for its Pakistan operation. Foley currently serves as chief commercial officer at the Canadian State Lottery and will assume the role on July 1st, 2014.

He replaces Lars Christian Iuel, who will take up a senior management position at Telenor Group in Norway.

In the firm’s 1Q14 financial results report, Telenor attributed its revenue growth for the quarter primarily to its operations in the Indian subcontinent. In Pakistan, total revenue for the quarter grew year on year from NOK1.29bn to NOK1.4bn while operating profit surged from just NOK1m to NOK377m.

“[Foley’s] knowledge and experience within telecom, internet and mobile financial services make me confident that he will drive new innovation, quality mass market services and strengthen Telenor Pakistan’s capabilities in delivering internet for all,” said Sigve Brekke, EVP and head of Asia at Telenor. “With Michael’s leadership qualities and vast international experience I am certain that we will continue to see strong results from the Telenor Pakistan team going forward”.

Telenor set up in Pakistan in 2005 and has since built a customer base of 34.3 million subscribers as of March 2013, ranking it as the second largest operator in the country behind PMCL which has 37.1 million, according to Informa’s WCIS.

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