Naeem steps down as CEO Wateen
Naeem Zamindar has stepped down as CEO and Board Member of Wateen Telecom, Pakistan after completing three and a half year-tenure that led to the restructuring and reorganization of Wateen, said official statement issued by the company. Naeem Zamindar will continue in his role until 31st July 2014.
Naeem Zamindar drove the turnaround of Wateen for the past 3 years and turned it around from burning two billion rupees annually to generating positive operating cash flow of one billion rupees. He has positioned Wateen into one of the leading technology and communication providers of Pakistan.
It may be recalled that Naeem was appointed by Sheikh Nahayan bin Mubarak Al Nahayan, to the Board of Wateen to turn it around as CEO in December 2010. He brought in key new members to strengthen the management team and address the challenges at the Company. Working with the Board and shareholders Naeem played a key role in reorganizing the operational team. He also led the effort to successfully negotiate new financial terms with its lenders to give the company operating room to restructure and return to profitability.