Saudi Telecom CEO resignation effective this week

25 March 2013 |


Khaled al-Ghoneim’s resignation from his position as CEO at Saudi Telecom Company (STC) will be effective as of Wednesday this week, according to reports.

Ghoneim announced his resignation last week and the speed of his departure reflects a difficult period for the Middle Eastern carrier, with a sustained profit slump following increasing competition in the country.

Ghoneim was appointed CEO of the company last June and in the past year the heads of both its domestic and international operations have also vacated their positions.

STC is yet to announce Ghoneim’s replacement.