Home / Mobile Operators / U Mobile / U Mobile CEO Jaffa Sany Resigned

U Mobile CEO Jaffa Sany Resigned

U Mobile Chief Executive Officer(CEO) Jaffa Sany Ariffin has resigned according a recent report.

new-u-mobile-logo

News portal TheMalaysianInsider reports that Jaffa resigned effective today over differences with major shareholder Tan Sri Vincent Tan, despite increasing the subscriber base.

It claims that Jaffa and Tan had clashed over U Mobile’s future direction despite the dramatic increase in subscription in Malaysia’s crowded telecommunication sector.

There had been reports that the company was planning to go the market to raise funds for its expansion but has not given a timeline for its prospective listing.  Previously Jaffa has said that U Mobile would consider listing once the company has 7 million subscribers or 10% of the market share.

Jaffa is the second chief executive to quit in just over three years, following the footsteps of his predecessor Dr Kaizad Heerjee, who had joined the company in July 2010. Jaffa joined U Mobile as its CEO on 1st of June 2012.

Prior to that Jaffa was the Senior Vice President, International Operations at ST Telemedia since 2006. Prior to ST Telemedia, he was Acting Joint Chief Executive Officer of PT Excelcomindo Pratama Tbk and Group Chief Financial Officer of Telekom Malaysia Berhad.

Jaffa graduated from the London School of Economics with a Bachelor of Science (Economics) in Accounting and Finance. He is currently a Fellow with the Chartered Association of Certified Accountants (UK) and a member of the Malaysian Institute of Accountants.

U Mobile’s largest stakeholder is U Telemedia Sdn Bhd, which has a 52.8% stake and is owned by Tan, who is also the company’s chairman. STT, under Singapore government investment arm Temasek Holdings has a  33% stake.

The other shareholders of U Mobile are Multi-Purpose Holdings Bhd with a 6.3% stake and Glorious Reflection Sdn Bhd holding 7.9%. Glorious Reflection’s major shareholder is Tan’s brother Tan Sri Danny Tan.

[Source]– TheMalaysianInsider

P.s: U Mobile HQ is closed today for holiday(replacement for National Day), MalaysianWireless will publish the official statement once we hear from U Mobile.

About Kugan

Kugan is the founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy
x

Check Also

altel-sim-card 700mhz 5g

Altel & Telekom Malaysia quietly awarded the 700Mhz Band, Ordered by the Minister

Altel and Telekom Malaysia are among 5 Telcos that have been awarded the 700Mhz band, as ordered by the new Minister of Communications and Multimedia.

best prepaid internet plans malaysia u mobile unifi mobile yes 4g yoodo

4 Best Prepaid Internet Plans in Malaysia – May 2020

Looking for an affordable cheap Internet plan? We have picked the top 4 best Prepaid Internet plans that are value for money in Malaysia.

U-Mobile-GoInsure3-personal-accident-insurance-chubb

U Mobile GoInsure 3 provides Free Insurance Coverage up to RM13,000 for Customers

U Mobile GoInsure 3 offers protection up to RM13,000 and it is free (1st month only) to all eligible existing and new, postpaid and prepaid customers.