Qatar Telecom QTED Qtel announces management changes in Indosat

  Qatar Telecom (QTED) - Qtel announces management changes in Indosat

RNS Number : 4110M
Qatar Telecom (Q-Tel) Q.S.C.
17 September 2012
 



                                       

                         Qatar Telecom (Qtel) Q.S.C.

                                       

                          Indosat Management Changes

                                       

 

 

Doha, 17 September 2012: Qatar Telecom (Qtel) Q.S.C. ("Qtel" or "Qtel  Group") 
(Ticker: QTEL.QA) announces  the following  management changes  at Qtel  Group 
company, PT Indosat Tbk ("Indosat") following an Extraordinary General Meeting
("EGM") held  today  at Indosat's  offices  in Jakarta.   Mr.  Harry  Sasongko 
Tirtotjondro is to be replaced as President Director and CEO by Mr.  Alexander 
Rusli on 1 November 2012.

Mr. Rusli has  served as  an Independent  Commissioner on  Indosat's Board  of 
Commissioners ("BOC") since January 2010 and currently serves as member of the
Remuneration Committee and Audit Committee.  Mr. Rusli is also a  Commissioner 
of PT TuguPratama Indonesia.  Most recently a  Managing Director at  Northstar 
Pacific, a Private Equity fund  which focuses on Indonesian opportunities,  he 
was formerly an Independent Commissioner  of PT Krakatau Steel (Persero),  the 
100% state-owned company that produces carbon-steel productsand Expert Advisor
to the Minister for State-Owned Enterprises, with oversight of 140 State-Owned
Enterprises and more than 500 subsidiaries. Mr. Rusli was also Expert  Advisor 
to the Minister  of Communications  and Information Technology,  where he  was 
involved   in   the   formulation   of   policy   and   regulation   in    the 
Telecommunications, Media and Postal industries.  His wealth of experience  in 
both the public and private sectors in Indonesia will be invaluable to Indosat
as the company enters a new stage of its development.

 

Mr. Harry Sasongko Tirtotjondro  has served as President  Director and CEO  of 
Indosat since August  2009. In this  time, he has  successfully navigated  the 
Company through  intense  market  competition and  has  been  instrumental  in 
driving through  a  number of  key  initiatives, which  have  transformed  the 
structure of the company and positioned it strongly for sustainable commercial
growth. As a result  of his leadership, the  company has effectively  improved 
its financial profile, successfully monetised non-core assets and repositioned
the company  for sustainable  growth. Mr.  Sasongko will  remain as  President 
Director and CEO until  1 November, 2012 when  Mr. Rusli will formerly  assume 
the position.

 

In addition  to  this  management  change,  the  Board  of  Commissioner's  is 
delighted to welcome Mr. Rudiantara, who is replacing Mr. Rusli as Independent
Commissioner. The only  other change  is that Mr.  Richard Farnsworth  Seney's 
status has now changed to that of an Independent Commissioner.

 

His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of the
Qtel Group and President of Indosat's Board of Commissioners said:

 

"Indosat has experienced  a number  of challenges  over the  last three  years 
andwe are sincerely grateful  for Mr. Sasongko's  leadership in ensuring  that 
the company has overcome these. The  business now has the necessary  structure 
and platform  in  place  to  effectively and  efficiently  deliver  its  value 
proposition to its customer base. We  wish Mr. Sasongko every success for  the 
future.

 

We are pleased welcome  Mr. Rusli in  his new role  of President Director  and 
CEO. Mr. Rusli's breadth of experience  and existing knowledge of the  company 
will help ensure the  ongoing success of  the business as  it enters the  next 
phase of its development. We wish him every success.

 

In addition, the BOC is delighted to welcome Mr. Rudiantara as an  Independent 
Commissioner and look forward to working with him closely."

 

 

                                   - Ends -

 

 

About Qtel

 

The Qtel  Group is  a  leading international  communications company,  with  a 
significant presence  in the  MENA region  and Southeast  Asia, and  having  a 
consolidated customer base of 83.7 million as of 30 June 2012. Its  businesses 
operate under  various names,  including  Qtel, Indosat,  Asiacell,  Wataniya, 
Nawras, Nedjma and Tunisiana.

 

The Qtel Group's principal activities are mobile telephone services, broadband
solutions, digital futures and fibre  technologies, serving both consumer  and 
business markets. Headquartered in Doha, Qatar, the Qtel Group is  ambitiously 
growing its global business  on the basis  of its insights  into the needs  of 
customers in emerging markets.

 

Qtel Group's ultimate  parent company  is Qatar Telecom  (Qtel) Q.S.C.,  whose 
shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.

 

Qatar Telecom (Qtel) would  like to inform all  shareholders that some of  the 
statements included within  this document indicates  management intentions  or 
expectations or beliefs or expectations or  predictions for the future ,  thus 
Management would  like  to  alert  readers  that  future  statements  are  not 
historical facts and are only an estimates or expectations. Actual results may
differ from  expected results  as  a result  of  the risks  or  uncertainties, 
including but not limited  to are: our ability  to manage growth  domestically 
and internationally and to  maintain a high level  of customer service;  sales 
growth in  the future;  accept  markets for  our  products and  services;  our 
ability to  obtain  to fund  enough  or capital  of  a joint  to  finance  our 
operations; expansion of the network, the  performance of our network and  our 
equipment; our ability to enter into strategic alliances; cooperation with the
carriers local in the  provision of lines and  connection with our  equipment; 
procedures for regulatory approvals; changes in technology; price competition;
market conditions, other risks related to them.

 

The Qtel  Group  does  not  undertake any  obligation  to  update  any  public 
statements regarding future aspiration  of the company  in relation to  future 
activities or new information or otherwise.

 

 

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
BOAFMGMLGNMGZZM -0- Sep/17/2012 10:34 GMT