In a late evening development today, it is learned that Dhabi Group has decided to split the boards of Warid and Wateen Telecom to make both the companies entirely separate entities, we have confirmed with sources.
A notable outcome of this development has already surfaced as Mr. Zouhair A. Khaliq has resigned from Warid’s board, to continue serving as a member of Wateen’s board.
A Warid spokesperson confirmed ProPakistani of the development by saying that this top level change is carried out on direct orders of Sheikh Nahyan bin Mubarak Al Nahyan, Chairman of Abu Dhabi Group, to make both the group entities self sustainable and to streamline the operational procedures in both companies.
It maybe recalled that Mr. Khaliq was appointed as Group Executive Director in January 2011. He was representing Dhabi Group on boards of Warid and Wateen Telecom since then.
It is too early to speculate the long term impact of the move on Warid and Wateen Telecom, which appears like a major strategy shift from Dhabi Group for its telecom arms in Pakistan.