UPDATE 2-Orascom Telecom posts higher profit, names new CEO

* OT names Khaled Bichara CEO; Bichara reports to Sawiris

* Q3 net income more than doubles, subscribers up 12 pct (Recasts with management restructure, adds details)

By Cynthia Johnston

CAIRO, Nov 15 (Reuters) - Egypt's Orascom Telecom (ORTE.CA)(ORTEq.L) on Sunday reported its third-quarter net income more than doubled as customer numbers climbed, and it named a new chief executive in a restructuring focused on growth.

Orascom Telecom posted a net profit of $180.9 million for the quarter compared to a previously stated $69.4 million in the same period of 2008, beating the average forecast of $125.6 million by seven analysts.

"The performance of Orascom Telecom in the first nine months of 2009 has seen an improving trend over the course of the year as local currencies in most of our key operations have stabilised against the U.S. dollar after the sharp devaluation of the currencies in Algeria, Pakistan and Tunisia," Executive Chairman Naguib Sawiris said in a statement.

"While the economic environment has improved in recent months the competitive environment remains challenging. In this context Orascom Telecom Holding has continued to perform well, although 2009 will be a year of slower growth than 2008, in line with our forecasts," he added.

Subscribers rose 12.1 percent year-on-year to 89 million. Revenues declined slightly to $1.29 billion for the quarter from a previously stated $1.37 billion a year ago. Operating income dipped 14 percent to $321 million in the quarter.

Earnings before interest, tax, depreciation and amortisation slipped to $578 million, 5.5 percent below a previously stated $612 million.