Zain Iraq announces management changes

Zain Iraq, an operating company of Kuwait's Mobile Telecommunications Co. (ZAIN.KW or Zain Group), Iraq's leading mobile operator by market share, yesterday confirmed that Emad Makiya will step down as chief executive officer (CEO) of Zain Iraq with immediate effect. Zain Iraq also confirmed that its Chairman of the Board, Mohammed Charchafchi, would take over the role of acting CEO on an interim basis. Meanwhile, Makiya will remain as an adviser to Charchafchi in his new role.
Makiya became CEO of Zain Iraq in June 2010, guiding the company through a significant period of transition. Today, Zain Iraq's management team comprises experienced local and regional telecom experts who can take the company to its next level, to promote further market growth, greater innovation and achieve a listing on the Iraq Stock Exchange.
Charchafchi said: "We are extremely grateful for the excellent contribution that Emad made to Zain Iraq, building a strong company that is the market leader in a fast growing sector of our economy. He worked effectively to build enduring relationships with the government, regulators and the wider market. He led the very significant steps towards the forthcoming IPO of Zain Iraq which is a real priority for management as well as Zain Group."
The changes in the senior management of Zain Iraq have taken place with the full support and agreement of Zain Group.
Nabeel Bin Salamah, CEO of Zain Group, said: "Zain Iraq is a successful business with a clear strategic focus and a strong senior management team. We thank Emad for his diligence and can look to the future with confidence".