Ooredoo announces CEO's retirement, new Group MD

Telecommunications multinational Ooredoo today announced the appointment of Aziz Ahmad Fakhroo (top) as Managing Director of the Ooredoo Group with immediate effect. A member of Ooredoo's Board of Directors since 2011, Aziz is currently Deputy Undersecretary for Financial Affairs at the Ministry of Finance, although the company has not stated whether he will continue to hold that position.

Prior to his current appointments, Aziz spent six years with Qatar's Ministry of Finance, where he served as Assistant Undersecretary for General Budget Affairs, Director of the Public Budget Department, and Director of the Public Investment Management Department. He was also Deputy Director in the Mergers and Acquisitions Department of Qatar Holding LLC, the strategic and direct investments arm of the Qatar Investment Authority, and currently still represents Qatar Holding on the boards of United Arab Shipping Company, Canary Wharf Group, and Chelsfield LLP. Previously he was founder and Chief Operating Officer of Idealys SARL, a 3D industrial simulation company.

In the same announcement, Ooredoo also said that its Group CEO, Sheikh Saud Bin Nasser Al Thani (right), will be retiring effective 31 December 2020, although it has not stated who will succeed him. Sheikh Saud, who was appointed Group CEO in 2015, has been with Ooredoo since 1990 in a wide range of positions, including CEO of Ooredoo Qatar, and still holds multiple key positions across Ooredoo Group, including Chairman of the Board for Ooredoo Kuwait and Vice Chairman of the Board for Ooredoo Oman.