Kuwait Finance House CEO said to step down

Sources say Mohammed al-Omar's resignation as CEO is linked to wider management changes
Kuwait Finance House CEO said to step down
By Reuters
Thu 24 Apr 2014 02:23 PM

The chief executive of Kuwait Finance House, the Gulf state's largest Islamic lender, has stepped down, two company sources said on Thursday.

Mohammed al-Omar's resignation is linked to wider management changes at KFH, one of the sources said, adding that chief operating officer Anwar al-Ghaith would take up the CEO role on an acting basis.

Comment could not immediately be obtained from KFH. Omar had been CEO since 2008 and had spent most of his career at the company, according to its annual report.

The company reported a 13 percent rise in first-quarter net profit on Saturday. The KD26.06 million ($92.6 million) which it made in the first three months of the year missed analysts' estimates in a Reuters poll.

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