Saudi Telecom Co's (STC) CEO for its domestic operations has resigned, a company spokesman said on Sunday, the latest senior executive to quit the former monopoly.
STC declined to give further details. Jameel Abdullah al-Molhem's departure follows that of group CEO Saud al-Daweesh and international CEO Ghassan Hasbani last year.
The Gulf's number one telecom operator by market value posted a 79 percent drop in fourth-quarter profit in January, which it blamed on rising costs and one-off charges at its Indian and South African affiliates.
STC's shares are down 5.5 percent in 2013, underperforming the wider Saudi share index, which is up 3.8 percent.For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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