PTCL announced Rashid Khan as its new chief executive officer, a joint announcement with the Pakistani Stock Exchange.
The announcement confirmed that Mr. PTCL CEO Daniel Ritz will retire and Rashid Khan will replace him as executive director of the company.
The decision was taken at a meeting of the PTCL meeting held today.
If you have to believe in the sources, Mr. Rashid Khan, who is also the CEO of Ufone, also remains the CEO of Ufone. However, a decision will be taken in this regard at a meeting of the Ufone board.
Rashid Khan Announced as New CEO of PTCL
Actually, this means that Mr. Rashid Khan announced as CEO of the PTCL and Ufone Group, a change in the way both companies have gone before.
Etisalat has long been working for the integration of PTCL and Ufone to obtain synergies. The measure would apparently help Etisalat reach its goal.
While a complete merger (such as Jazz-Warid) is not an option, due to the different nature of the businesses, both companies have combined several departments and functions.
Nonetheless, PTCL today scheduled a briefing to share financial results and other important announcements with the media.
PTCL officially confirmed the development. In a statement shared with the media, the company said dr. Daniel Ritz decides to leave PTCL for personal reasons at the end of his 3-year contract on March 1, 2019 to reunite with his family in Europe.
He added that the PTCL board of directors at its meeting today appointed Rashid Khan, the current chief executive officer of Ufone, for the post of PTCL CEO from March 2, 2019, with an additional expense from Ufone’s chief executive officer. .
Dr Ritz said: “It was a privilege and an honor to lead PTCL and the PTCL group through a period of significant transformation. I am proud of what we have achieved as a team and the results announced today. With the return of PTCL to the first line of growth for the first time after a few years of declining revenue, this is proof of this.
The PTCL Board has given the Dr Ritz his exemplary leadership over the past three years and the related business results, his decision to return to Europe to reunite with his family, understandable.
Etisalat International CEO Hatem Dowidar said: “Daniel took the helm of the company at a critical moment that laid the foundations for a future network, providing ultra-fast broadband too many areas With the largest network modernization In addition, PTCL, under its leadership, became active in cloud computing, data centers and in the promotion of Digital Pakistan’s agenda.
PTCL president Maroof Azfal added:” On behalf of the Government of Pakistan, I would like to thank Daniel for his personal leadership and achievements to put PTCL, a major national asset, on the path of growth.
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