We have just confirmed, Tariq Malik, CEO of Wateen Telecom has resigned from his position after trembling 2 finals years heading the company.
Mr. Malik’s resignation was earlier rumored couple of months back, when he was given a final chance to bring the company back to the track. This rumor strengthened when he opted for leave then, reportedly due to illness.
Now, multiple sources in company have confirmed us Mr. Malik’s resignation, however, we were not able to get official word on this.
Farrukh Hayat is named as upcoming CEO of the company, however, final decision is said to be pending at Dhabi Group’s table.
Wateen, despite of its diversified business and IPO earlier this year, has been going through financial and managerial crisis for over than a year now.
Wateen closed at Rs. 4.01 with highest level of Rs. 4.03 per share today, 60 percent less than the face value of Rs. 10 at the time of IPO.
Update:
Wateen has officially denied Mr. Malik’s resignation and said there is no such news as of now. It said Tariq Malik is very much CEO of the organization.
Khus kam, jahan pak. He had been misusing wateen’s funds and resources since 2006. Good that abu dhabi’s board finally woke up from its deep slumber. Not just the CEO but board should be fired too.
acha hua
this step should had been taken earlier.
this step should had been taken earlier. Now if wateen will improve then the people would not beleive on it
i am surprised how Dhabi group let this A hole mess with the company for such a long time…..
Confirmed from whom? Another lie by Pro-pakistani!
whats the benefit now…. Tariq Malik aka TM (or total mess) has done to wateen and group can be termed as irrepairable damage.
Pro Pakistani,
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Wateen
Rumor
Tariq Malik is joining Zong as C00
While Farukh Hayyat is a weak person who servered in Warid and Earlier Warid he was in TeleCard
Such a person should be hired who fire all those getting salaries due to the reference only
And promote the Employees really have good thinking and honesty
He has f***** this company for giveing benifit to his family…. Like KHL, BAHAM and many More…. Buy tower @ RS 120/Kg and sell them back @ RS 35/Kg, Genset buy @ RS800K and sell back @ RS250K…
cant wait to see if it is true that he is moving to Zong !!! as if they dont have enough trouble as it is
very nice to hear that. if that man leaves before company may get turned around till now.
still its a good news for at least wateen people.
congratulations all.
Fat ____ resigned after screwing the company, one of the wworst CEOs i ve ever come across, wateen is FnF company, if he is going zong means zong is going to be in s**t as well
[Comment Edited]
very true…wateen is FnF company….
Are Chinese that stupid to hire this Fat head?
The corruption which he did is one part. But Banks who had under-written the IPO of Wateen are also equally involved in this scam. The IPO share price was Rs. 10 and now share is trading at Rs. 4. Who was stupid enough to buy the shares of such a Company managed (rather mis-managed) by such stupid management.
Get a life Pro’s when u are not clear with anything do not post it. Yalla Habibi..
TM is back and negotiating with Abu Dhahi Group the position abroad as member and equal to the position of Baseer Tahir and Shahid Pervaiz
(Rumor)
huh what a combination would that be….
TM, PS and BT….
comedy of errors / corruption / money laundering / and what not?
He has not resigned and still CEO of wateen confirmed by inside sources referring to an email that all wateen employees received
thats too bad for Wateen… :-D
He (TM) is a curse for Wateen and because of him more than 2000 people are suffering.
I wish he would have been fired in 2007 then Wateen would be somewhere else.
Why the hell people sms me to ask is this me?
yes off course this is me, I hate him… _______
[Comment Edited]
Hope the change brings good things. I’ve heard Naeem Zameedar would hold the charge of Wateen CEO.
This man turned a company with only 40 million dollars of equity into a company worth hundreds of millions of dollars. . He was promised further equity by the shareholders which he never got. The share price would not have gone down had the shareholders supported him. This company will never do well under Naeem, write my words down today.
Numerous jobs will be lost. Many people will now be fired. The list is coming out soon. You wanted change? It’s coming soon girls and boys.
I leave Wateen Telecom 02 December 2010 and Today is 06 March 2011 (More then 3 Month pass) and I am still waiting my Salary, incentive and old devices Recovery Commission.