DUBAI, June 6 (Reuters) – Saudi Telecom Co, the
Gulf’s No.1 telecoms operator, has appointed Khaled al-Ghoneim
as group executive, the former monopoly said on Wednesday.
Ghoneim will take up his new post on June 18, replacing Saud
al-Daweesh, who resigned in April. At the time, STC said Daweesh
would remain at the helm until October, but the company has
appointed his successor sooner than expected.
“Saudi Telecom announces that its board, during its assembly
on June 5, agreed to the appointment of Khaled Al-Ghoneim as CEO
of the group,” STC said in a statement to the Saudi bourse.
STC is the largest Gulf telecoms operator by market value
with operations across the Muslim world from Turkey to
Indonesia.
The firm, which remains majority government-owned nearly a
decade after its partial privatisation, reported a 60 percent
surge in first-quarter profit in April as rising domestic demand
for broadband and data helped boost earnings.
(Reporting by Joseph Logan,; Writing by Matt Smith; editing by
Dinesh Nair)
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