Flash Report /
Bangladesh

Grameenphone's first Bangladeshi CEO may improve relations with regulator

    IDLC Securities
    16 January 2020
    Published byIDLC Securities

    Mr Yasir Azman has been appointed as the new Chief Executive Officer (CEO) for Grameenphone Ltd., effective from 1 February 2020, in place of Mr Michael Patrick Foley (October 2016 - Present). Mr Azman is the first home-grown CEO of Grameenphone. 

    Brief Profile

    Mr Azman has served as CMO of Grameenphone since June 2015 and also as Deputy CEO of the company since May 2017. Before this, he was Telenor Group’s Head of Distribution & e-Business and worked across all Telenor operations. One of his key contributions during his tenure in Grameenphone includes playing a leading role to set up Grameenphone sales and distribution and to transform Grameenphone's distribution structure.

    Analyst Comment

    Telenor Group appointed new Chief Executive Officers in three of its Asian subsidiaries; Telenor Myanmar, dtac in Thailand and Grameenphone in Bangladesh. Mr Yasir Azman has been a familiar figure among the corporates of Bangladesh. His gradual career progression was indicative of his candidacy as a potential CEO. Nevertheless, we find the change of CEO in the midst of the controversial audit dispute interesting. We think Mr Azman, being Bangladeshi, may be able to play a more diplomatic role during negotiations with the regulator.