Zain Group’s board appoint chairman and CEO
13 March 2017 | Jason McGee-Abe
Zain Group’s newly elected board has appointed Mohannad Al-Kharafi as chairman and Bader Al-Kharafi as vice-chairman and CEO of Zain Group.The Middle East operator held its annual Ordinary General Assembly where its cash dividend of $0.11 per share for the financial year ending 31 December 2016 and the election of the Group Board of directors for the next three years were both confirmed. Scott Gegenheimer was appointed in a new role as chief executive officer of operations.
Incoming Zain Group Board members:
Saudi Arabia and Iraq:
However, Zain still made strategic and operational progress, and in Saudi Arabia, for example, the decision from the Communications and Information Technology Commission to extend Zain Saudi Arabia's licence for an additional 15 years was a significant boost to the operation there.
Al-Kharafi explained that Zain Iraq succeeded in reaching a negotiated settlement with the country’s Finance Ministry related to an imposition of a capital gains tax on its Iraqna acquisition in 2007. This resulted in the lifting of restrictions on the trading of Zain Iraq's shares, access to the company’s bank deposits, and the waiving of penalties and interest on taxes.
Investments:“Investments in emerging technologies will diversify our revenue streams,” said vice-chairman Bader Al-Kharafi. "Zain Group continues to focus on innovation in digital services, and we expect our investment program to drive us in new areas as we collaborate with innovative technology players.”
13 August 2018 |
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03 August 2018 |