PTCL has announced Mr. Rashid Khan as its new CEO, said an announcement shared with Pakistan Stock Exchange.
Announcement confirmed that Mr. Daniel Ritz, outgoing CEO of PTCL, will be stepping down from his position and Mr. Rashid Khan will be replacing him as the Chief Executive of the company.
Decision was made during a PTCL board meeting held earlier today.
If sources are to be believed, Mr. Rashid Khan, who is also the CEO of Ufone, will continue to remain the CEO of Ufone as well. However, a decision on this will be made during a Ufone board meeting.
This essentially means that Mr. Rashid Khan could be announced as the group CEO of PTCL and Ufone, a shift in how both the companies were run previously.
Etisalat has long been working on integrating both the PTCL and Ufone to reap synergies, and the move is apparently going to help Etisalat in achieving the goal.
While a complete (Jazz-Warid like) merger is not a choice, due to different nature of business, both the companies have combined several departments and functions already.
Not to mention, PTCL has scheduled a briefing for later today to share financial results and other major announcements with the media.
Update
PTCL has officially confirmed the development. In a statement shared with media, the company said that Dr. Daniel Ritz decided to leave PTCL for personal reasons upon completion of his 3-year contract on March 1, 2019, in order to re-unite with his family in Europe.
It added that the PTCL Board of Directors at its meeting today has appointed Rashid Khan, currently CEO of Ufone, to the post of CEO PTCL effective March 2, 2019, with an additional charge of CEO Ufone.
Dr. Ritz was quoted as saying, “It has been a privilege and an honor to lead PTCL and the PTCL Group through a period of significant transformation. I am proud of what we have achieved as a team and the results announced today with PTCL returning to top line growth for the first time after several years of revenue decline are a testimony to this.” The PTCL Board of Directors thanked Dr. Ritz for his exemplary leadership in the past three years and the associated business results. His decision to return to Europe to re-unite with his family is understandable.
Hatem Dowidar, CEO Etisalat International, commented, “Daniel has taken the helm of the company at a critical time where he has succeeded in laying the foundation for a future network, providing ultra-fast broadband to many areas with the biggest network modernization of PTCL in its history. Additionally, PTCL under his leadership, became active in Cloud computing, data centres and pushing forward the Digital Pakistan agenda”. Maroof Azfal, Chairman PTCL, added, “On behalf of Government of Pakistan, I would like to thank Daniel sincerely for his personal leadership and achievements in putting PTCL, an important national asset, back on the growth track.
Doesn’t matter they’ll still provide 1mbps up stream on 50mbps pkg lol. PTCL will remain shit no matter what.
Absolutely right! Upon old secondary networks, there is no capacity of achieving 50 mbps. Even MSAGs quality is so low that we don’t get actual results. PTCL is to look into the services being provided to the clients which are pathetic due to which Nayatel a small operator, is providing excellent services in Islamabad. I am well wisher of PTCL hence request the management to focus upon outdoor services to the clients instead of reducing manpower resources through VSS.
you guys are lucky enjoying cheap internet rates, here in gulf speed is almost similar but the rates are significantly higher than the entire world :D
now may be only it go to 512kbps
50? Most of their network can barely support 4mbps package.
yr baat to teri theek h
Rashid Khan sb pls ptcl pension ke be suno, kyo nahi un ko un ka haq dya jaraha, in sha Allah tabdile aye ge
Once upon a time there was a Federal Government Department called Telegraph and Telephone (T & T) Department. A dictator of the time sold this valuable federal department to ETISALAT of Dubai (how much sale purchase was transparent is an another discussion).
Today almost 12 years passed and every Pakistani has forgotten it’s name and now only PTCL is known to everyone, nobody talks about the fate of 75000 employee of the than T&T department.
Is it not shameful that federal public service commission qualified engineers have been deprived of their basic right of salary increase, their commute and their pension rights since 12 years period?
Today PM/CJ Supreme court of Pakistan has started taking action against those who have usurped the rights of innocent Pakistanis and we the pensioners of PTCL also see a ray of hope that soon we will be given the justice and those whom are involved in lingering on the justice may soon be taken to the task.
We all pensioners humbly pray to new CEO
(Rashid Khan) PM/CJ Supreme court to order immediate release of suspended salary and Pension since 2009.
CEO Changed But PTCL Harkaat Always Remains Unchanged.
Not a Good Decision. He must do rest now.
Rashid Khan ny retirement ly le cricket sy? Afghani ko PTCL ka CEO kiun bnaya.