Business

Wateen finds replacement for its first CEO

Naeem Zamindar confirmed in a board meeting held December 8.

Omair Zeeshan December 09, 2010

KARACHI: Wateen has found a replacement for the company’s chief executive officer (CEO) who has increased the company’s initial $35 million investment by a factor of 10 to $353 million. Friday will be Tariq Malik replacement’s first day in Wateen’s Lahore office.

Naeem Zamindar, who was confirmed as CEO in a board meeting held on December 8, will pick up where Malik left off. Zohair Khaliq was also confirmed as a new director during the meeting.

According to Wateen’s official spokesperson, Salman Mazhar, the former CEO resigned because of personal reasons. Malik said that he would take a few months off for holidays and might consider an independent startup.

Mazhar added that Malik will be opening up shop in Pakistan of all places, which is something exciting to look forward to, according to independent telecom analysts.

Officials said that job stress had been worrying Malik slightly and there had been rumours of him falling sick and not coming in for weeks on end.

Interestingly, Mazhar said that Malik might stay on with the company as a consultant for a few months. This move might help the company get used to life without him, speculated industry observers.

Malik said that he had informed the company that he wanted to resign back in January and that he had submitted an official resignation letter in July. It has taken the company more than 10 months to find a replacement for Malik.

“It was also a matter of Malik honouring his contract, though that does not at all mean that he did not want to stay on,” said Mazhar who added that taking this long to find a replacement was the norm for a company such as theirs. “Wateen is subject to SECP regulations, a public limited company. The CEO cannot just resign and leave everything in the middle. There has to be due process,” he added.

Malik himself said, while talking to The Express Tribune, that he was glad to stay on up till now and help the company after his resignation.

Published in The Express Tribune, December 10^th, 2010.

COMMENTS (1)

Wateen Team | 13 years ago | Reply TM, (Tariq Malik) was called by his team members who not only gave their best to Wateen but also provided services 24x7 to acheive the collective dream of making WTL second to none company in Pakistan & in South Asia. The dream was broken by the selfish attitude of the outgoing CEO as he not only discouraged the building of strong Sr. Management Team under him but rather encouraged the safarishees & chamchaas who would go to his house in the evening & pouch him with negative comments to the hardworking team members who were only in Wateen for their sheer competance. The recent example is making of CCO of the company who never worked & has no idea of WTL business but his whole carrier is selling GSM SIM's. This could only be possible of undue favour of TM & Wateen Director Pervaiz Shahid. Both ( TM & Pervaiz Shahid) not only they hired the best reources from all over for their personal; gains but left these hardworking team members in lurch by removing them & destroying their carriers. Financial bunglings is known to all. Contracts to in Laws by TM & by Pervaiz Shahid to his close friends just like Warid. An advise to new CEO & Director, get new commercial team Gents, the existing one's may had earlier worked with you in Mobilink but see where is Infinity is today & not to talk about directionless Link DOT Net. They would never change as here in Wateen they can only sell new customers but at the same time think how many customers leave WTL every month. Gents, the Punny Sales is evident in Wateen by the aforesaid GM Consumer Sales & his Prodigies. Now Called CCO. What a Joke? The outgoing CEO not only destroyed the debt/equity ratio but at the same time made the life miserable for the selfless SMT & then let them go. Through their efforts where Wateen was ( See the financials in 2008). Wateen still has the potential to rise from this mess but need focus & sustainability of its customer base which is only possible from a team minus F&F ( Friends & Family). Request to new CEO, please call the old team members of Wateen ( People with Highest Integrity) & consult them as current second tear team of Wateen Management Team has forgotten to work. The recent example of 48 hours service outage in WiMax Services. You cannot put a young team member who is playing first class cricket to play Test cricket for National Team as likely he/she would burn out quickly. Combination of Experience & Honesty is what is required in Sr. management Team & down under in Wateen to get out of this. The same is possible. All the Best to New Management! From a Well Wisher

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