Robi CEO steps down
Mahtab Uddin Ahmed, managing director and chief executive officer of Robi Axiata, has stepped down.
He made the disclosure on his Facebook account while Robi also confirmed the development through a statement.
The telecom operator said Ahmed decided not to renew his contract.
"His term with Robi will officially come to an end on October 31, 2021, but he has decided to go on leave with immediate effect," said Robi in a statement yesterday.
Chief Financial Officer M Riyaaz Rasheed, in addition to his current role, would serve as the acting CEO with immediate effect.
In his Facebook post, Ahmed said he "decided not to renew my contract with Axiata".
Shares of Robi ended unchanged at Tk 43.10 on the Dhaka Stock Exchange yesterday.
Ahmed took charge as the CEO of Robi, the second-biggest telecom operator in Bangladesh in terms of subscribers, five years ago.
He is now in Australia.
"Every great journey comes to end, and my glorious journey with Robi has come to an end too!" said Ahmed in his post.
Chairman of Robi's Board of Directors, Thayaparan Sangarapillai, said, "On behalf of the Robi Board of Directors, I would like to thank Mahtab for establishing Robi firmly as the leading digital service provider of the country."
Ahmed said, "Despite being an introvert, I feel that my relationship with each one of you (Robi family, stakeholders, regulators, Robi customers etc.) is from the heart or way beyond our professional connection."
"While I enjoyed working and being with you all in Bangladesh, I have also been away from my family for the last six years. Now I would like to give them a turn to spend more time with me while I figure out my next course of action!"
Ahmed joined Robi in September 2010 as the chief financial officer and held the position till 2014. He served the carrier as the chief operating officer from April 2014 to March 2016. Later, he took the helm of Robi.
Before joining Robi, he worked at Unilever.
An alumnus of Harvard Business School, Ahmed obtained his undergraduate and master's degrees in accounting from the University of Dhaka.
Robi Axiata's profits increased by around 5 per cent to Tk 80.93 crore in the first half of 2021 compared to the same period a year earlier. It logged around 8.12 per cent higher revenue of Tk 4,011 crore.
The company raised Tk 523.7 crore from the stock market by offloading 52.37 crore shares last year.
Under Ahmed's leadership, Robi became the first operator to roll out 3.5G services in Bangladesh. It introduced 4.5G in all districts in 2018. It was also the first operator to conduct a test run of 5G.
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