Arabia Online's Chairman, CEO and GM call it quits; New CEO appointed as restructuring is expected at the Arab dotcom

Published October 2nd, 2002 - 02:00 GMT

Arabia Online's chairman and chief executive officer, Ramzi Zeine, has officially resigned today from his post, to be replaced by Mohsan Parvez, following the reconvening of the company’s Board of Directors after the summer break.  

 

It is also rumored, according to sources close to the company, that Ossama Al-Sharif, general manager of Arabia Online, has also submitted his resignation following that of his chief. 

 

Menareport.com placed a call earlier this morning to Arabia's office in Amman, and was able to get an official statement from them highlighting that its Board of Directors reconvened last week after a summer break. 

 

The statement added that "Part of the Board discussion revolved around the portal operation in addition to management and structural changes in the immediate and near future. As part of the restructuring, the resignation of Ramzi Zeine from his operational post of CEO was accepted and the Board appointed Mohsan Parvez as the new CEO. A detailed announcement is planned to be issued next week." 

 

Operating since 1995, the portal was founded by entrepreneur Khaldoon Tabaza and is backed, among others, by Saudi prince Al-Waleed Bin Talal, the region's richest man. The company offers services targeted at the Arab world and the broader international community interested in the Arab world.  

 

The Internet centric technology group Arabia Online employs some 65 staff and is based in Dubai Internet City (DIC), United Arab Emirates (UAE). The company also has an office in Amman, Jordan, where its editorial and technical support operations are located.  

 

Arabia Online recently estimated that it receives 1.5 million visitors a month—a number audited by Accenture. It had raised $20 million in private placement funding last year. Among the investors: Commercial International Investment Company, eVC, Intel Capital, IT Investments, OM Juffali, Prince Al Waleed Bin Talal, SHUAA Capital as well as a number of other new and existing shareholders.  

 

Prior to founding Arabia Online, Ramzi was Chairman and CEO of Specialized Technical Services (STS), a regional system integrator providing e-business solutions. In 2000, Zeine was named the Middle East e-Entrepreneur at the The Visa/Arabian Business.com Awards ceremony. Zeine remains a shareholder in Arabia Online, and also is expected to carry out Business Development tasks for the company. 

 

He holds a Bachelors of science in mechanical engineering and a Masters of Science in computer science from Manchester Universiy. Zeine’s family represented Pepsi-Cola and General Motors in Jordan for over 35 years. 

 

Before joining Arabia Online, Osama Al-Sherif was the general manager of Arabian Communications and Publishing, where he was also the publisher of BYTE Middle East magazine, the Arabic edition of BYTE and Al-Jadeed Publisher. He also served as Editor-in-Chief of The Star, Jordan's English language weekly newspaper. Osama holds Bachelor of Journalism from the University of Missouri/Columbia. — (menareport.com) 

© 2002 Mena Report (www.menareport.com)


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