Sunday, Mar 17, 2013
DUBAI (Zawya Dow Jones)--Saudi Telecom Co.'s chief executive Khaled A. Alghoneim has resigned, a company spokesperson said on Sunday.
The resignation follows the departure last month of the chief executive of STC's domestic operations, Jameel Abdullah al-Molhem.
The executive changes this year follow a string of other resignations of senior management last year after the firm announced a number of changes within its management structure involving executive positions.
STC's Group CEO Saud al-Daweesh and international CEO Ghassan Hasbani also resigned last year.
The telco's net profit slumped 79% to 468 million Saudi riyals ($124.8 million) in the fourth quarter, down from SAR2.3 billion a year earlier.
Write to Rory Jones at rory.jones@dowjones.com
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(END) Dow Jones Newswires
17-03-13 0749GMT
