Here it is a breaking news that Mr. Naeem Zamindar has been terminated as CEO and Board Member of Wateen Telecom.
Mr. Naeem Zamindar was terminated by Dhabi Group after completing a three and a half year-tenure that led to the restructuring and reorganization of Wateen, said official statement issued by the company. Naeem Zamindar will continue in his role until 31st July 2014.
It may be recalled that Naeem was appointed by Sheikh Nahayan bin Mubarak Al Nahayan, to the Board of Wateen to turn it around as CEO in December 2010. He brought in key new members to strengthen the management team and address the challenges at the Company.
Working with the Board and shareholders Naeem played a key role in reorganizing the operational team. He also led the effort to successfully negotiate new financial terms with its lenders to give the company operating room to restructure and return to profitability.
Dhabi Group has to yet announced the new CEO of the company. There are some rumours that CFO of the company, Mr.Faisal Masood may be the acting CEO before board appoints someone as new CEO of Wateen Telecom.
