Monday, March 18, 2013

Saudi Telecom CEO Al-Ghoneim resigns


Saudi Telecom Group’s Chief Executive Officer Khaled Al-Ghoneim has resigned after less than a year in the job, the latest senior management executive to quit as the company tries to arrest a sustained profit slump.

Ghoneim was appointed in June 2012 following the resignation of his predecessor Saud Al-Daweesh two months earlier, while the heads of the firm’s domestic and international operations have also quit over the past 12 months.

The company’s shares have fallen 5.8 percent this year, underperforming the main Saudi index, which is up 3.7 percent.

Read more: http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20130318157317

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