New Mann at the helm for M1 as CEO Kooi retires in Dec

SINGAPORE (Nov 5): Telco veteran Manjot Singh Mann will join M1 as its new CEO on Dec 6, as current CEO Karen Kooi Lee Wah retires after 23 years with the group.

Pending developments related to Konnectivity’s pre-conditional offer for M1 shares, Kooi will remain on the board as a director of M1. She will also remain as advisor to the board till Feb 28, 2019, to ensure a smooth transition.

“After having spent 23 years with the company, it is time for me to hand over the mantle. M1 is well-positioned for the next phase of growth and I am committed to working closely with the board and Manjot to ensure a smooth transition,” Kooi says.

See: M1 3Q earnings down 5.3% to $34.4 mil as expenses outstrip sales growth

CEO of Pareteum Asia, a subsidiary of NASDAQ-listed cloud software platform company Pareteum Corporation, Mann has over 28 years of well-rounded operational leadership experience across diverse geographical markets.

He was previously global CEO (Communications and Convergence) of Lebara Mobile (UK), a multinational, pan-European mobile virtual network operator.

He is also the former CEO of Hutchison Telecommunications, Jakarta, where he drove revenue and profitability growth and was responsible for a sizeable uplift in market share amid heavy and entrenched competition in Indonesia.

In a statement on Monday, M1 says Mann brings “a unique blend of insights and perspectives in the rapidly evolving telecommunications industry”.

“The M1 Board is confident that Manjot is well-suited to lead M1 in this increasingly competitive landscape, with his global perspective for future growth and unique multidimensional view of the industry,” says Danny Teoh, chairman of M1.

“Manjot has embedded innovation and digital strategies successfully into operations led by him. He is also noted for execution excellence, a caring leadership, satisfied customers and highly energized and motivated employees,” he adds.

In an SGX filing on Oct 24, M1 said it will continue its transformation to a Smart Communications Provider to compete in the converged digital economy.

Meanwhile, through a jointly-held offeror Konnectivity, Keppel Corporation and Singapore Press Holdings (SPH) is planning to privatise M1 with a $2.06 per share offer.

Malaysian-based Axiata Group, the biggest shareholder of M1 holding a 28.7% stake, has yet to accept the offer.

Shares in M1 closed 1 cent lower at $2.10 on Monday.