UPDATE 1-Orascom Telecom rejigs management, names new CEO

(Adds details from statement, background)

CAIRO, Nov 15 (Reuters) - Egypt's Orascom Telecom (ORTE.CA)(ORTEq.L) said on Sunday it was restructuring its management to focus on growth and strategic initiatives, and named Khaled Bichara as group chief executive officer.

Bichara will take over the role from billionaire businessman Naguib Sawiris, who will stay on as executive chairman and continue to be involved in the firm's businesses with more focus on strategic growth, a company statement said.

Bichara will report to Sawiris.

Sawiris said he hoped Bichara, previously Orascom's chief operating officer, would draw on experience in the restructuring of Italian mobile operator Wind to usher Orascom into a "more aggressive period of growth" and turn it into a more agile firm.

"I will also remain involved in the businesses with more focus on steering the group's strategic growth while guiding and supporting the activities of the senior management team," Sawiris said in the statement.

"I believe that the telecom market will see massive consolidation during the coming years, and with the new structure I will be able to devote more time and effort in this direction," he added.

Orascom Telecom said Bichara had from 2005 headed the fixed line and portal business unit at Wind, which is owned by Sawiris, and was later promoted to chief operating officer.

There, he led a restructuring that Orascom Telecom said had in three years "turned Wind from a continuously loss making company to one of the best performing mobile, fixed line and broadband integrated operators in Europe". Bichara was named chief operating officer at Orascom in April.

"The telecommunication business is continuing to grow and evolve at a rapid pace, and we're reshaping Orascom Telecom Holding to be a leader in this transformation. Our strategy leverages our core strengths and capitalises on vastly emerging trends to drive growth and profitability," Sawiris said.

Orascom said Sawiris would retain overall responsibility for Orascom Telecom Algeria. (Writing by Cynthia Johnston)