STC CEO resignation to be effective from Wed

STC, Saudi Arabia's largest telecom company, has yet to announce a replacement
STC CEO resignation to be effective from Wed
By Reuters
Mon 25 Mar 2013 11:34 AM

Saudi Telecom Co (STC) said on Monday the resignation of outgoing CEO Khaled al-Ghoneim would be effective from Wednesday, March 27, only ten days after he announced he was quitting the former monopoly.

Ghoneim was appointed last June. STC, Saudi Arabia's largest telecom company, has yet to announce a replacement.

The company has suffered a sustained profit slump following the loss of its local monopoly and in the past year the heads of its domestic and international operations have also quit.

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