Telecom Egypt’s (TE) newly-formed board of directors convened this morning and announced the appointment of the new executive management team and government representatives. This eliminates one of the overhangs on the stock as last year’s stand-off between management and the BoD on one hand and the ex-Minister of CIT, on the other hand, led to significant concerns on the company’s strategy and future. Below are the new appointments:   Dr. Maged Ibrahim Osman as Chairman of the BoD Eng. Tamer Gadallah as CEO and Managing Director. Gadallah previously held the position of VP and Enterprise CCO Eng. Mohamed Shamroukh as CFO, succeeding Hassan Helmy. Shamroukh was previously Senior Finance Director and ex-CFO before that   The board also restructured the Audit Committee, appointing:Dr. Eskandar Adel Eskandar Teama General Ashraf Mohamed Said Halim Ismail Mohamed Farid Dr. Mohamed Hany Seif El-Nasr (Company announcement, Omar Maher, Karim Riad)   Telecom Egypt: EGP8.23 as of 31 March 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,582 million, ETEL EY / ETEL.CA