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|Jo Lunder Appointed Chairman of Orascom Telecom|
Egypt’s largest telecommunications company, Orascom, has appointed Jo Lunder as the company’s chairman to replace Khaled Bichara who stepped down from his position back in December. Lunder currently serves as CEO of Orascom Telecom’s majority owner VimpelCom
“Lunder will focus on executing a strategy to increase cash flows through driving profitable growth, operational excellence and capital efficiency,” said the company in a statement.
Lunder commented on his new post by saying, “Given the strategic importance of Orascom Telecom Holding after the successful merger between VimpelCom and Wind Telecom SPA., I am very pleased to be appointed Chairman. Our focus will be on executing our operational strategy which will deliver profitable growth through operational excellence and the efficient use of capital.”
Lunder was appointed as CEO of VimpelCom in July 2011 having previously served as a member of the VimpelCom board of directors from May 2002 until May 2011.