Thursday, 24 October 2013 00:00
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DUBAI (Reuters): Nawras, Oman’s No. 2 telecom operator, has appointed Greg Young as Chief Executive with immediate effect on Wednesday, replacing veteran CEO Ross Cormack.
Young was formerly CEO of Sri Lanka Telecom, according to a Nawras statement to the Oman Bourse.
Nawras posted an 11.1% rise in third-quarter profit shortly before it announced Young’s appointment, which may mark a turnaround in the company’s performance after it reported falling profits in the preceding six quarters.
Nawras, which ended Oman Telecommunication Co’s (Omantel) monopoly in 2005, is majority-owned by Qatar’s Ooredoo. Cormack will continue to work for the group, the statement said.
