In a sudden move today, Rashid Khan has been announced as the CEO of Ufone, we have confirmed with sources.
According to details available with ProPakistani, Rashid Khan — former CEO of Mobilink (now Jazz) — will be assuming his office as CEO of Ufone starting immediately.
Rashid Khan will replace Mr. Rainer Rathgeber, a German national, who remained the CEO of Ufone for just 18 months.
During his brief time at the company, Ufone managed to sustain the competition despite almost no new investments made by the Etisalat group; at a time when competition invested hundreds of millions of dollars in network and new spectrum.
Rainer, and his team, were able to make the company cash positive, mainly due Super Card customers that make up major part of company’s inflows.
During Rainer’s tenure, the future of Ufone’s remained uncertain due to anticipated merger between PTCL and Ufone. In fact Rainer’s appointment was seen by some as final step towards materialization of the said merger.
Now Rainer is departing the company while leaving the same uncertainty to prevail during days to come.
It is yet unclear if Rainer Rathgeber will go back to Etisalat — from where he had come in to head Ufone — or if he will leave the group.
About Rashid Khan
Rashid Khan is a veteran of the telecommunication industry and has held several management positions within the cellular business arena in the emerging markets for the past 20 years.
Rashid Khan is best known for his tenure at Mobilink (now Jazz) where he remained the CEO and President of the company for six years from July 2008 till August 2014.
Previously he had been working with Bangalink where he led the business as Managing Director and Chief Executive Officer.
Prior to that, for almost 15 years, he worked in Silicon Valley for various international companies where he acquired extensive working experience in the technology sector and was awarded patents for his inventions.
Ufone has issued following statement on the development:
Ufone appoints Rashid Khan as acting CEO
Islamabad, August 13, 2017: The Board of Directors at Ufone, an Etisalat Group Company, announced the appointment of Mr. Rashid Khan as acting CEO of Ufone effective August 15, 2017.
Rashid Khan will replace Mr. Rainer Rathgeber who served as CEO Ufone for last one and half years and has decided to join his family in Europe.
Rainer joined Ufone as CEO in March 2016 and has since then managed a significant turnaround for the company.
Commenting on his time at Ufone Rainer stated, “The time with Ufone has been one of the most exciting phases of my business life, thanks to everyone involved. But: It is time to normalize my family life.”
The incoming CEO, Rashid Khan shared, “I am very excited to take this role and look forward to lead this exceptional organization, dedicated and talented professionals to take the business forward.”
Rashid Khan has vast experience in the telecoms arena in Pakistan including 6 years as CEO and Board member of Mobilink (now Jazz).
“I would like to thank Rainer for his contributions to Ufone during his tenure and wish him all the best for his future.” said Abdulrahim Nooryani, Chairman of the Ufone Board while ‘welcoming Rashid Khan to Ufone’.