CAIRO: Orascom Telecom Holding’s board of directors on Thursday elected Jo Lunder as the company’s chairman, replacing Khaled Bichara.
Bichara stepped down from his position as executive chairman and board of directors member at the end of December 2011, according to an OT statement. The new chairman’s appointment will be ratified in the next general assembly.
“Lunder will focus on executing a strategy to increase cash flows through driving profitable growth, operational excellence and capital efficiency,” the statement read.
Jo Lunder was appointed as CEO of VimpelCom Ltd. in July2011. He served as a member of its board of directors from May 2002 until May 2011 and was the chairman of the board from April 2010 until the time of his appointment as CEO.
“…He led VimpelCom on a path of sustained growth and expansion, attracted significant investment from Alfa Group and Telenor, and eventually transformed VimpelCom into the second largest wireless telecommunications company in Central and Eastern Europe.”
Lunder commented on his new post by saying, “Given the strategic importance of Orascom Telecom Holding after the successful merger between VimpelCom Ltd. and Wind Telecom SPA., I am very pleased to be appointed Chairman. Our focus will be on executing our operational strategy which will deliver profitable growth through operational excellence and the efficient use of capital.|
He will work closely with Ahmed Abou Doma, OT’s CEO.
