du names new chief executive to replace Osman Sultan
Johan Dennelind joins as new CEO from Stockholm-based Telia Co.
UAE telco du has announced the appointment of Johan Dennelind as chief executive officer, replacing Osman Sultan. Dennelind will take up his appointment in early 2020 and was previously the CEO of Stockholm-based Telia Co. Sultan, the founding CEO of Du, stepped down after almost 14 years of leading the company, which is also known as Emirates Integrated Telecommunications Co.
"The appointment of Johan Dennelind follows an extensive and rigorous international search by a leading global executive search firm. The search criteria set by the Board focused on finding someone with deep knowledge of the changing nature of the telecommunications industry, strong leadership and change management skills, and a track record of driving business growth in competitive environments," the company said in a statement posted on the Dubai Financial Market
In July, Emirates Integrated Telecommunications Company reported 11.3 percent increase in net profit after royalty to AED913 million ($248.5 million) for the first half of 2019. Half year revenues totalled AED6.33 billion for the same period.
Revenues were impacted by industry wide challenges, particularly the continued pressure on voice revenues, while the company's total mobile subscriber number declined by nearly 9 percent due to the continued clean-up of its prepaid base.