Foley would replace Lars Christian Iuel on July 1, 2014, the Oslo-based telecom giant said in a statement – Iuel would take up a senior management position in the Telenor Group. PHOTO: FILE
Telenor Group, on Wednesday, announced the appointment of Michael Patrick Foley as the new Chief Executive Officer (CEO) of Telenor Pakistan.
Foley would replace Lars Christian Iuel on July 1, 2014, the Oslo-based telecom giant said in a statement – Iuel would take up a senior management position in the Telenor Group.
Foley, a Canadian, has worked in more than 11 countries. Telenor Pakistan’s new chief has more than 30 years of sales, marketing and operational experience in the telecom and retail sectors from both advanced and growth markets. He currently serves as the Chief Commercial Officer of the Canadian State Lottery, Atlantic Lottery Corporation.
“With Michael Foley’s leadership qualities and vast international experience, I am certain that we will continue to see strong results from the Telenor Pakistan team going forward,” said Sigve Brekke, executive vice president and head of region Asia, Telenor Group.
The Pakistani subsidiary of the Norwegian cellular giant grossed close to $1 billion in sales in calendar year 2013.
Foley takes over the helm at Telenor Pakistan at a time when the company continues to grow its market share and is set to further grow its mobile internet penetration with the recently awarded 3G licence – the company which claims to be the leader in the mobile internet market with more than 30% share.
“The people of Pakistan should expect to see growth in internet penetration during the years to come, to the benefit of individuals, the business community and the society at large,” the statement quoted Foley as saying.
Launched in 2005, Telenor Pakistan is the second largest operator in the country in terms of subscriber base, the statement said.
During his nearly six-year tenure, first as chief marketing officer and then as CEO, Iuel has been instrumental in delivering strong market and financial performance – he saw the company almost double its subscriptions from 18 million in June 2008 to 35 million in March, 2014.
Published in The Express Tribune, May 8th, 2014.
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Telenor is falling behind other operators.