Kuwait-based telecoms group Zain has made significant changes to its management structure, creating the roles of deputy chief executive officer and chief operating officer, in response to increasingly challenging and competitive market…
Kuwait-based telecoms group Zain has made significant changes to its management structure, creating the roles of deputy chief executive officer and chief operating officer, in response to increasingly challenging and competitive market conditions.
Hisham Akbar, previously acting chief commercial officer, has taken on the two new key executive roles, Zain said in a statement. Jawdat Al-Dajani has been appointed permanent chief commercial officer.
Under the new management structure, Nabeel Bin Salamah continues as chief executive officer, Osama Matta is chief financial officer, Hisham Allam is chief technology officer, Saud Al Zaid is chief corporate affairs officer and Antonio Lopez is chief strategies and business development officer.
Zain, which has operations in eight markets in the Middle East and Africa, said the changes are intended to streamline operations and improve the group’s competitiveness.
“The proactive steps that we are taking are set to help reinforce the group’s competencies in the face of intensifying challenges it faces in the highly-competitive markets in which we operate,” Bin Salamah said.
Zain reported consolidated revenues of KD663.5m (US$2.384bn) for the first half of 2012, up about 1% from the first half of 2011. Consolidated EBITDA was KD299m (US$1.074b), up 2% from the same period last year, and reflected an EBITDA margin of 45.1%, up 0.6%. The group had 41.4 million active customers as at 30 June, representing year-on-year growth of almost 5%.
