Top Saudi Telecom official resigns
Riyadh, February 3, 2013
Saudi Telecom Company's (STC) chief executive for its domestic operations has resigned, a company spokesman said on Sunday, the latest senior executive to quit the former monopoly.
Jameel Abdullah al-Molhem's departure follows that of group CEO Saud al-Daweesh and international CEO Ghassan Hasbani last year.
The Gulf's No.1 telecom operator by market value posted a 79 per cent drop in fourth-quarter profit in January, which it blamed on rising costs and one-off charges at its Indian and South African affiliates.
STC's shares are down 5.5 per cent in 2013, underperforming the wider Saudi share index, which is up 3.8 per cent.-Reuters
Tags: Saudi Telecom |
More IT & Telecommunications Stories
- Batelco CEO leaves; former boss steps in
- Etisalat Nigeria signs $1.2bn refinancing loan
- Most firms ‘not curbing external software’
- Plextor launches high-performance SSD
- Epicor clinches two new UAE deals
- Du launches smartphone festival
- Mena fastest growing e-commerce region
- Ooredoo, QNB to host workshop for SMEs
- Data use surge 'posing security challenges'
- Kanoo, EMC showcase infrastructure portfolio