Batelco appoints CFO

Bahraini operator Batelco has today announced the appointment of Faisal Qamhiyah as CFO, Reuters reports.

Qamhiyah leaves his position as CFO at the company’s domestic unit for the role, and replaces Marco Regnier, who resigned in August after 15 months in the job.

Despite the success in filling the CFO role, Batelco is still searching for a CEO, following the departure of Shaikh Mohamed bin Isa Al Khalifa in May this year.

The management turnover at Batelco in recent years means that the board is presently run by three members, and the company’s tumbling shares reflect the damage.

However, Batelco – which competes directly with Saudi Telecom Company (STC) and Kuwait’s Zain – is optimistic about its future, and shares in the company ended 1.2% higher on Bahrain’s bourse, compared to last week’s record low.

A statement from Batelco read: “The search for a new group CEO is ongoing, with the process well underway and proceeding according to plan.”

Earlier this month, Batelco selected Swedish vendor Ericsson to upgrade its LTE network in the country.

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