Nigerian telecoms operator Vee Networks, which trades as Vmobile, has appointed a new acting chairman.
Vee Networks, which recently saw Vodacom SA withdraw from a management contract due to a breakdown in corporate trust between the companies, is involved in a legal dispute with Econet Wireless International (EWI) over what EWI claims is its pre-emptive right to purchase a majority shareholding in the Nigerian operation.
Vee Networks says Dr Ismaila Adebayo Adewusi has been appointed by the board of directors to replace Oba Otudeko, who has chaired the board since its inception.
The appointment of Adewusi, who is the Lagos state commissioner for finance, was announced - along with the appointment of Gamaliel Onosode as a company director - at the organisation`s board meeting, held in Lagos yesterday.
In its minutes, the board noted "the sterling contributions of Otudeko to the successes recorded by the company in its three years of operation. The business has benefited immensely from his wise counsel and fatherly disposition at all times."
Vee Networks shareholders also approved the company`s audited financial statements for the six months to 31 December 2003.
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