Sunday, Apr 29, 2012
DUBAI (Zawya Dow Jones)--Saudi Telecom Co., or STC , the kingdom's biggest telecom operator, said Sunday it has appointed a new chairman and vice chairman.
STC, in a statement published on the website of the Saudi Bourse, named Abdul Aziz Bin Abdullah Al Suqair as its new chairman, while Mohamed Bin Abdullah Al Kharashy will take up the role of vice chairman.
STC in April said its first-quarter net profit increased 60% year-on-year to 2.52 billion Saudi riyals ($671 million), as it added more mobile and fixed broadband customers. Chief Executive Saud al-Daweesh resigned earlier this month, but the company didn't give a reason for his departure.
The telco's shares last traded 0.7% down at SAR42.
-By Shereen El Gazzar, Dow Jones Newswires; +971 444 61684; Shereen.elgazzar@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
29-04-12 1129GMT
