Mobile operator Zain Saudi Arabia has named Fraser Curley as its new CEO following the resignation of Khalid al-Omar, according to a notice to the Saudi Stock Exchange.
Curley, who was previously group CEO adviser for Zain Group, is the company’s…
Mobile operator Zain Saudi Arabia has named Fraser Curley as its new CEO following the resignation of Khalid al-Omar, according to a notice to the Saudi Stock Exchange.
Curley, who was previously group CEO adviser for Zain Group, is the company’s third CEO in five months.
In early October last year, Omar had taken over from Saad al-Barrak after the latter resigned.
This new resignation comes as the company is currently in talks with banks to refinance a US$2.5bn Islamic facility maturing in late July, according to reports.
In a recent notice to the Saudi Stock Exchange, the company also said that it “incurred net loss for the year ended 31 December 2011 and its current liabilities exceeded its current assets.”
