Fahad Al Hassawi will take on the role of acting chief executive officer of Du from January 1.
According to a note submitted to Dubai Financial Market, the current deputy CEO-consumer services of the company will be placed in charge of the telecommunications giant until Johan Dennelind takes up the position “which is expected to be by the end of January 2020”.
Dennelind was previously CEO of Stockholm-based Telia Co. after having worked with Telenor ASA and DiGi in Malaysia.
He replaces Osman Sultan, the founding CEO of Du, who stepped down after almost 14 years of leading the company, which is also known as Emirates Integrated Telecommunications Co.
Du saw its net profits fall 13.5 percent in the third quarter amid falling revenue and mobile subscriptions, the company previously announced.
Du said that net profits after royalty for the quarter ending on September 30 fell to AED381 million, while total revenue over the same time period dropped to AED3 billion, a 7.9 percent decrease from the previous year.
Additionally, over Q3, the number of fixed-line customers grew 1.5 percent to 771,000. Mobile subscribers dropped 10.6 percent to more than 7.7m.
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