By Andy Sambidge
Satellite firm boss Masood Mahmood becomes board member of UAE telco with immediate effect
Emirates Integrated Telecommunications Company, also known as du, on Tuesday said it has added the CEO of Yahsat, the UAE-based satellite solutions provider, to its board.
Masood Mahmood becomes a board member with immediate effect and replaces outgoing board member Jassem Mohamed Al Zaabi, the Dubai-based telco said in a statement.
Mahmood is CEO of Yahsat, the region's first multi-purpose satellite system providing customised satellite solutions for governments as well as the commercial sector in the Middle East, Africa, Europe and Central to South West Asia.
In his role at Yahsat, he is responsible for the management and full deployment of Yahsat's operational capabilities. Prior to his role as CEO, Masood held senior positions at Mubadala's Information and Communications Technology unit.
Ahmad Bin Byat, Chairman of du, said: "Masood is a very well-respected sector expert with a wealth of experience relevant to our company. I am delighted to welcome him to the du Board.
"We firmly believe in translating our values into actions and our commitment to good governance is evident throughout the culture of our organisation. As a key part of this, we take the composition of our board of directors very seriously; to ensure that we have the most effective leadership and advisers possible to help drive the continued success of the company as it enters a new phase."
Du, the UAE's second biggest telecommunications operator, reported a 45 percent increase in third-quarter profit in October, roughly in line with analysts' estimates as revenue rose slightly and it paid a lower taxes.
The firm, which ended rival Etisalat's domestic monopoly in 2007, made a net profit of AED474.3m ($129.13m) in the three months to September 30, up from AED326.9m in the year-earlier period.