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Markets PTC (Pakistan Telecommunication Company Ltd) 8.95 Decreased By ▼ -1.1%

PTCL appoints Mathew Wilsher as CEO

  • Mathew Wilsher has been appointed as Chief Executive with effect from 2020-12-01 (1st December) in place of Rashid Naseer Khan
Updated 15 Oct 2020

Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has appointed Mathew Wilsher as Chief Executive of the company.

“We have to inform you that Mr. Mathew Wilsher has been appointed as Chief Executive with effect from 2020-12-01 (1st December) in place of Mr. Rashid Naseer Khan,” said the company in a statement to the Pakistan Stock Exchange (PSX) on Thursday.

Wilsher has over 25 years of experience in the sectors of consumer goods and telecommunication. The upcoming PTCL chief has earlier been part of major companies including P&G, LG Telecom, Telstra, and Etisalat.

The country’s leading telecom reported revenue of Rs 96 billion for the nine months ended September 2020; when normalized for the impact of Covid-19 and certain regulatory changes affecting Ufone, Group revenue is 4.2% higher than 2019 on a like-for-like basis.

PTCL standalone revenue for the nine months period is 0.7% lower than last year; when normalized for the impact of Covid-19, the like-for-like revenue is 1.2% higher than the same period of last year.

PTCL Group performance has shown signs of improvement. Group’s Q3, 2020 revenue is higher by 3.4% over the same quarter of last year. The topline growth coupled with cost control initiatives translated into 167% and 356% improvement in Group’s operating profit and net profit for the quarter respectively.