Algeria: Djezzy change leadership

Telecoms

According to the website All information on Algeria (TSA), Ghada Gebara, is no longer the CEO of mobile operator Djezzy. In a statement issued March 9, 2016, the subsidiary of VimpelCom announced the transfer of his former boss to the parent. Ghada Gebara leaving the company less than a year after replacing Philippe Thomé which she officially took over June 17, 2015. TSA reveals that more tensions with Vincenzo Nesci, executive president of Djezzy, this departure also results from poor financial results of the company for 2015.

On 17 February 2016, Djezzy has released its financial figures for 2015. It follows a continuous drop in revenues of the company since 2013. In 2015, Djezzy has achieved a turnover of 1.259 billion. A decrease of 25% compared to revenues in 2014 was 1.678 billion. Even the investment side, the company recorded a 38% decline compared to 2014. The operating capital (Capex), which was 31.2 billion dinars (nearly $ 15 billion) fell to 19, 5 billion dinars (around 9.5 billion). The number of subscribers as it is retracted. The company lost 700,000 subscribers and has stabilized at 17 million consumers.

This poor performance only served to reinforce Djezzy in its restructuring plan begun in 2015. Salim Tamani, the public relations and media executive at Djezzy, explained that this is a voluntary redundancy plan, aimed at company executives.
Source: EcoFin