CEO Wateen, Tariq Malik Resigns

Wateen has replaced Tariq Malik from CEO seat and Naeem Zamindar would be the new Chief Executive Officer of the company. Tariq Malik increased the company’s initital investment of $35 million to $353 million.

A meeting was held on Dec. 08, 2010 confirming Naeem Zamindar the new CEO and also Zohair Khalid, the new director of the company. According to the Wateen officials, Tariq Malik resigned because of some personal reasons.

Tariq Malik is looking to start an independent business in Pakistan. Mazhar added that Malik will be opening up shop in Pakistan of all places, which is something exciting to look forward to, according to independent telecom analysts.

Officials said that job stress had been worrying Malik slightly and there had been rumours of him falling sick and not coming in for weeks on end. Interestingly, Mazhar said that Malik might stay on with the company as a consultant for a few months. This move might help the company get used to life without him, speculated industry observers.

Malik submitted its resignation back in July 2010 to resign in Jan 2011. It took around 10 months for the company to find a replacement for Tahir Malik.

“It was also a matter of Malik honouring his contract, though that does not at all mean that he did not want to stay on,” said Mazhar who added that taking this long to find a replacement was the norm for a company such as theirs. “Wateen is subject to SECP regulations, a public limited company. The CEO cannot just resign and leave everything in the middle. There has to be due process,” he added.

Malik himself said, while talking to The Express Tribune, that he was glad to stay on up till now and help the company after his resignation.

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2 Responses to "CEO Wateen, Tariq Malik Resigns"

  1. Shaista says:

    Great, they found a replacement for him

  2. Zahid says:

    He has been ruining the company for years. Finally, they got rid of him.

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