Saudi Telecom operator, Zain
appointed Fraser Curley as chief executive. He is the third CEO in six months.
 |
Fraser Curley, new CEO |
| Khalid al-Omar, ex-CEO |
Curley's appointment came after
Zain Saudi, an affiliate of Kuwaiti group Zain, accepted the resignation of
Khalid al-Omar, who will going to retire.
Omar took over as head of Zain
Saudi in October 2011 after the departure of Saad al-Barrak. He was formerly
chief executive of Zain's operations in Kuwait whereas Barrak was also a former
Zain group CEO.
The firm's latest loss -- 461
million riyals ($122.92 million) in the 4Q 2011 -- brings its accumulated
losses to 9.7 billion riyals, or 70 about percent of its capital.
According to Zain's 2010 annual
report, the most recent available, Zain Saudi's mobile market share falling to
16 percent in 2010 from 18 percent in 2009.
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