The Saudi division of Kuwaiti telco group Zain has appointed Fahd bin Ibrahim Al Dughaither as the new chairman of the board.
In an announcement to the Saudi stock exchange, Zain said that Al Dughaither had been appointed by the board of directors last…
The Saudi division of Kuwaiti telco group Zain has appointed Fahd bin Ibrahim Al Dughaither as the new chairman of the board.
In an announcement to the Saudi stock exchange, Zain said that Al Dughaither had been appointed by the board of directors last week and Waleed bin Khalid Al Hakeem was named as the board’s secretary.
As TelecomFinance previously reported, Zain Saudi Arabia has struggled to break even in a competitive market and has extended its SAR9bn (US$2.4bn) loan numerous times.
Analysts have warned that lenders may start to charge higher interest rates or demand guarantees from the financially solvent parent company before agreeing a new long-term financing arrangement.
The Zain Group has seen a number of executives leave this year. CEO Nabeel Bin Salamah and deputy CEO Hisham Akbar both left in the last two months, with no reason given for their departures.
