Batelco, Bahrain's state telecommunications provider, has replaced long-serving group CEO Peter Kailaropoulos with Shaikh Mohamed bin Isa Al Khalifa, effective October 1st. The decision, announced yesterday (28 Aug), signals the first time that a Bahraini will hold the role.
Al Khalifa has been chief executive of Bahrain's Social Insurance Organization (SIO) since 2008. Kailaropoulous, who has been group CEO since 2005, will become Batelco's new chief executive of strategic assignments, responsible for the company's acquisitions.
Batelco and Prince Alwaleed's Kingom Holding are currently undergoing due dilligence for a US$950m (AED3.49bn) stake in Zain Saudi, expected to have been completed by the end of August.