STC appoints Khaled Al-Ghoneim new Group CEO

Gulf's biggest telco replaces Saud al-Daweesh four months earlier than planned
STC appoints Khaled Al-Ghoneim new Group CEO
The Gulfs biggest telco has replaced Saud al-Daweesh four months earlier than planned.
By Reuters
Wed 06 Jun 2012 01:42 PM

Saudi Telecom Company (STC), the Gulf's number telecoms operator, has appointed Khaled al-Ghoneim as group CEO, the former monopoly said on Wednesday.

Ghoneim will take up his new post on June 18, replacing Saud al-Daweesh, who resigned in April. At the time, STC said Daweesh would remain at the helm until October, but the company has appointed his successor sooner than expected.

"Saudi Telecom announces that its board, during its assembly on June 5, agreed to the appointment of Khaled Al-Ghoneim as CEO of the group," STC said in a statement to the Saudi bourse.

STC is the largest Gulf telecoms operator by market value with operations across the Muslim world from Turkey to Indonesia.

The firm, which remains majority government-owned nearly a decade after its partial priva

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