Thuraya Appoints Chenel CFO

Wednesday, October 19, 2011

Thuraya Telecommunications Company, the leading international mobile satellite services (MSS) operator has announced the appointment of Patrick Chenel as Chief Financial Officer.  In addition to leading Thuraya’s financial management, planning and reporting functions, he will also be responsible for maintaining and developing the Company’s relationships with the relevant financial institutions and strategic suppliers across the globe. Prior to joining Thuraya, Patrick was the Chief Financial Officer for the real estate arm of the Qatar Investment Authority, Qatari Diar. He began his career with Alcatel in 1989, holding a number of various senior positions in the finance area. Patrick has extensive experience overseeing business performance and strategic growth initiatives through his various international assignments in the UAE, Qatar, Canada, China, and France. Thuraya’s CEO, Mr. Samer Halawi, says,”Patrick combines an excellent and reputable background as a CFO with international experience, and a broad background in the telecom industry.  This remarkable combination makes him a valuable addition to our team”. Mr. Halawi added that the new CFO will play a leading role in the current strategic and business initiatives, while also ensuring that we will continue to build on our solid relationships with investors and the financial community, confirming our position as a leading international MSS operator. Patrick’s appointment comes following the departure of Mr. Mohammed Sharaf, a long-time Thuraya CFO, earlier this year. Thuraya is the market leader in mobile satellite handhelds with 65% market share within its 140 country coverage area spanning Europe, Africa, Middle East, Asia and Australia. The Company has an integrated portfolio of industry-leading high speed data, voice, maritime and tracking products that are known for their reliability, versatility, and affordability. These include the world’s smallest and fastest satellite broadband solution to support streaming at 384 kbps, Thuraya IP, and the only satellite handheld with full walk and talk capability, Thuraya XT.   
 

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