Orascom reshuffles top brass

Egyptian carrier Orascom Telecom announced a shake up of its leadership team, promoting chief operating officer Khaled Bichara to the position of group chief executive officer.

Bichara will report directly to Naguib Sawiris, who will now take the position of executive chairman and will continue to direct the group’s growth and expansion strategy.

“The telecommunication business is continuing to grow and evolve at a rapid pace, and we’re reshaping OTH to be a leader in this transformation. I will also remain involved in the businesses with more focus on steering the Group’s strategic growth while guiding and supporting the activities of the senior management team. I believe that the telecom market will see massive consolidation during the coming years, and with the new structure I will be able to devote more time and effort in this direction,” Sawiris said.

Orascom said that net income for the third quarter 2009 reached $365m, growing 6 per cent over the same period in the previous year. For the nine months to the end of September, Orascom reported revenues of $3.8bn, down 1.9 per cent over 2008.

The company’s total subscribers hit 89 million at the end of September, an increase of 12.1 per cent over September 2008.

Meanwhile, Sawiris is still upset at Canada’s objections to Orascom opening up shop in North America. Orascom has an investment in AWS spectrum licensee Wind Mobile Canada, previously known as Globalive Wireless, which the Canadian regulator has said is not eligible to operate in Canada.

The CRTC objects to launch of Wind, saying that it is in breach of foreign ownership rules, a move which may put the kybosh on Wind’s proposed launch of early December.