24 March 2013
ZAIN Saudi, Saudi Arabia's third-largest telecoms provider, in its annual general meeting, has elected Fahd bin Ibrahim Al-Dughaither as its new chairman, it said on Saturday.
Zain KSA has also approved the election of the new board members for the next three-year term. The elected nine members were Abdulaziz Al Nafisi, representing Mobile Telecommunications Company KSC (Zain Group); Ossama Matta, representing Itisalat Plus Company; Scott Gegenheimer, representing Communications & Information Consultancy Group; Thamer Obeidat, representing Al Nahar Economic Consultancy Company; Fahd Al Dughaither, Farhan Al Jarbaa, Raied Al Saif, Georges P. Schorderet, and Abdullah Ba Sudan.
Wailed Al-Hakim is named the new board secretary.
The affiliate of Kuwait's Zain, reported a 2012 net loss of SR443 million ($118.1 million) and has extended the maturity of a SR9 billion Islamic loan seven times since last summer.
Parent-firm Zain in July increased its stake in Zain Saudi to 37 percent from 25 percent after underwriting the affiliate's capital restructuring.
ZAIN Saudi, Saudi Arabia's third-largest telecoms provider, in its annual general meeting, has elected Fahd bin Ibrahim Al-Dughaither as its new chairman, it said on Saturday.
Zain KSA has also approved the election of the new board members for the next three-year term. The elected nine members were Abdulaziz Al Nafisi, representing Mobile Telecommunications Company KSC (Zain Group); Ossama Matta, representing Itisalat Plus Company; Scott Gegenheimer, representing Communications & Information Consultancy Group; Thamer Obeidat, representing Al Nahar Economic Consultancy Company; Fahd Al Dughaither, Farhan Al Jarbaa, Raied Al Saif, Georges P. Schorderet, and Abdullah Ba Sudan.
Wailed Al-Hakim is named the new board secretary.
The affiliate of Kuwait's Zain, reported a 2012 net loss of SR443 million ($118.1 million) and has extended the maturity of a SR9 billion Islamic loan seven times since last summer.
Parent-firm Zain in July increased its stake in Zain Saudi to 37 percent from 25 percent after underwriting the affiliate's capital restructuring.
© The Saudi Gazette 2013
