EGY: Telecom Egypt gets new chief

Telecom Egypt has named Tarek Tantawy as its chief executive officer, replacing chairman Akil Beshir who will remain as non-executive chairman.

Tantawy has been chief financial officer and vice president of the landline monopoly since 2007, helping to oversee its partial initial public listing and purchase of a 45 per cent stake in Vodafone Egypt.

Tantawy initially resigned in June and was scheduled to leave this month but last month he decided to stay on.

The company said Tantawy’s replacement as CFO and vice president will be announced in due course.