Saudi Telecom president Khalid Al Molhem resigned from his post last night. Sources in Riyadh confirmed the development today.
“Engineer Al Molhem has in fact resigned and is set to move on to establish his own financial services business,” said Greg Wixted, PR director of PR agency Ogilvy in Riyadh. However, unofficial reports have suggested that Al Molhem’s sudden resignation is in fact due to a clash with other members of senior management at the state telco over the company’s corporate strategy.
Saud Al Daweesh president of STC’s mobile unit Al Jawal and vice president of STC has been appointed acting president of STC with immediate effect.
STC is the Middle East’s largest telco, counting over 11 million mobile subscribers and 4 million fixed-line users. It employs over 22,000 staff.
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