Helios Investment Partners, the new majority shareholders of Telkom Kenya has tapped a former Orascom executive, Aldo Mareuse to be chief executive officer of the company.
Mr Mareuse an engineer by profession and a former group chief finance officer (CFO) of Orascom Telecom Media and Technology Holding an Egypt-based listed company takes over from Vincent Lobry, who has served the firm from September 2014.
John Barorot, the former Safaricom chief technical officer (CTO) has been appointed the chief technical and information officer (CTIO) replacing Jean Marie Garcia.
The position of the chief finance officer is also earmarked for changes, however the Business Daily could not immediately confirm whether the replacement of Francois Bresson, the current office holder, has been made.
The new management structure is also meant to reduce the number of executives reporting to the CEO to four from the current nine. The affected executives will bear the title of managing director.
Eddy Njoroge, who has been retained as Telkom Kenya Board chairman, had on Friday promised to unveil the new management team Monday— but sources at the Telco indicated the announcement has been postponed to a later this week to allow room for international communication of the news to the affected staff.
“Our strategy is to tap on the best expertise to turn around the firm. A new team will be unveiled on Monday and we will announce a new CEO, CFO and CTO,” Mr Njoroge said on Friday.
The management restructuring comes on the backdrop of the conclusion of the sale of 70 per cent stake that France Telecoms held in Telkom Kenya to private equity firm Helios Partners.
Helios now controls 60 per cent of the mobile operator after it ceded 10 per cent to the government, increasing the government stake to 40 per cent from the previous 30 per cent.
Mr Mareuse is credited with playing a fundamental role in the growth Orascom from a mid-sized regional mobile operator into a global operation that ultimately merged with Vimpel Co Ltd to create on one of the world’s largest telecommunication carriers.
The Company’s activities are mainly divided into its global system for mobile communications (GSM), Media and Technology, and Cable businesses.
The GSM unit includes mobile telecommunications operations in Egypt, North Korea and Lebanon.
Credit: Business Daily