UAE’s Etisalat names Julfar as group CEO

The UAE’s largest telecoms firm Etisalat has appointed Ahmad Abdulkarim Julfar to a newly-created group chief executive role, the company said in a statement Wednesday. Julfar was most recently the chief operating officer at the Abu Dhabi-listed former monopoly and the move was part of a global expansion phase, the company said. Arabian Business reported earlier this month that Etisalat was preparing for a management shake-up to include the creation of a group CEO role and the possible retirement of chairman Mohammed Omran.The Abu Dhabi company saw its group chief financial officer Salem Al Sharhan resign in April, citing personal reasons.Etisalat, which dropped plans to buy a controlling stake in Kuwait's Zain earlier this year, currently operates in 18 countries. The telco reported 7.5 million mobile subscribers across the UAE at the end of June.Etisalat posted a 14.9 percent fall in second-quarter net profit to AED1.59bn ($433m) amid rising operating costs and increased competition in its domestic market. From / Arabian Business news