(Ecofin Agency) - Tunisie Telecom has a new chief executive officer in the name of Mohamed Fadel Kraïem (picture). Formerly the firm’s deputy managing director, he was appointed at this new position last month but officially took office on October 17, 2017, during a board meeting of the public company. He replaces Nizar Bouguila who had held the position since August 2015.

In addition the change in the management of the firm, Anouar Maârouf, the minister of information technologies and digital economy, said there has been a change in its shareholding as well. “Following the exit of Dubaï Holding, an agreement was signed with the Emirati firm Abraj so that it acquires a 35% stake in Tunisie Telecom,” the minister said on October 16, 2017, airing on Express fm. These two major changes both aim to help the company get back on an up slope.

According to Anouar Maârouf, Tunisie Telecom had some issues with its former strategic partner which upon its exit, was no more motivated by its development plans. Besides social challenges, the firm no more had the means to competitive with the other operators. “As a result, the firm has been in the red for two years; something that is not normal for an operator supposed to make profits just like its private rivals,” said the minister. He however added that this would soon be all in the past “with the upcoming implementation of a reform policy aiming to get the firm its old shine”.