Monday, Dec 03, 2012
(This article was first published on Sunday)
RIYADH (Zawya Dow Jones)---Kuwait's Mobile Telecommunications Co. (ZAIN.KW), or Zain Group, said Sunday it has appointed Scott Gegenheimer as its new chief executive officer following the recent resignation of Nabeel Bin Salamah.
Mr. Gegenheimer, formerly the general manager and chief executive of Qatar Telecom's (QTEL.DO) Kuwaiti subsidiary National Mobile Telecommunications Co., or Wataniya (NMTC.KW), will start work at Zain as of Dec. 2, the mobile operator said in a statement posted on the Kuwait bourse website.
Mr. Salamah had informed Zain that he didn't plan to renew his contract with the company, which was due to expire in February 2013. He said he would remain in his post until the appointment of new CEO.
Zain reported net profit of 201.6 million Kuwaiti dinars ($717.8 million) for the first nine months of 2012, down slightly from reported profit of KWD210.2 million in the same period of 2011.
Write to Iman Dawoud at iman.daowud@dowjones.com
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(END) Dow Jones Newswires
03-12-12 0434GMT
