CEO of Batelco Bahrain resigns
Batelco hunts for new Bahrain CEO following departure of Gert Rieder
- Gert Rieder has resigned as CEO of Batelco's Bahrain operation, the company announced yesterday.
Rieder, who was appointed CEO in April 2009, resigned due to "personal reasons", the company said in a statement. The telco's group CEO, Peter Kaliaropoulos, will temporarily resume the lead role.
The company has already started its search for a new CEO, but Kaliaroulos said the process "could take some time".
"I would like to take this opportunity to express our appreciation to Gert for his contribution and efforts to improve Batelco's Bahrain operations over the past 18 months. We wish him and his family well for the future," Kaliaropoulos said.
Rieder's departure followed closely from a disappointing set of results for Bahrain's incumbent telco. Last week, the company said that its net profit for the nine months ended September 30, 2010 had dropped 17% to BD66 million ($175 million) compared to the same period in 2009.