16/04/2018 07:59 AST

Mobile Telecommunication Company Saudi Arabia (Zain) announced that its Board of Directors, on Sunday, decided that its CEO, Peter Kaliaropoulos will step down to make way for the Chief Operating Officer Eng. Sultan Al Deghaither to take the lead role across the company.

Kaliaropoulos will leave Zain Saudi by June 30 to pursue other opportunities in the industry. The Zain Saudi Board also decided that the leadership change and appointment of Eng. Al Deghaither as CEO will be effective as of July 1 as part of succession planning to talented and experienced Saudi executives and consistent with government policy initiatives.

Zain Chairman Prince Naif Bin Sultan Bin Mohammed Bin Saud Al Kabeer, on behalf of the Board and the company, stated that “Peter Kaliaropoulos led Zain Saudi in delivering its first ever net profit and accelerated the customer focused operating culture and the development of Saudi talent.”

Prince Naif extended his sincere appreciation to Kaliaropoulos for his efforts and contribution to the transformation of Zain. Prince Naif welcomed the appointment of Eng. Sultan Al Deghaither and said, “Sultan Al Deghaither is a talented executive having worked his way up the organization ladder. He will take over the leadership of the company with tremendous operational, technical and customer management expertise having led many complex projects that repositioned Zain Saudi as a company of reference for data quality and service in Saudi. The Board has the utmost confidence in his leadership skills to continue growing Zain Saudi in the future.”

Eng. Sultan Al Deghaither started his journey with Zain Saudi when the company itself had just begun its operations, as radio planning & optimization manager in 2009 where he participated in building the engineering department, Moreover, he was instrumental in leading the commercial launch of the first 4G Network in the Kingdom back in 2011. Among his many achievement, Sultan led one of the biggest project in Zain Saudi history (project Reload) with a total investment of SR4.5 billion. He was appointed as chief technology officer after the successful completion of the project. Thereafter he was appointed as chief operating officer with the added responsibility of regulatory affairs as well as innovation and digital transformation.

He holds a Bachelor Degree in Telecommunication and Electronics from the King Saud University.


Saudi Gazette

Zain Saudi shares surge on first ever annual profit

25/01/2018

Shares in Zain Saudi Arabia surged to their highest level in three weeks on Wednesday morning, after the troubled operator announced it had achieved profitability for the first time since its launch

The National

Zain Saudi Arabia reports first ever full-year net profit

24/01/2018

Zain Saudi Arabia has reported its first ever full-year net profit, amounting to SAR 12 million for the period ending Dec 31, 2017. This is a milestone achievement for the company since the commencem

Kuwait Times

Cisco helps Zain Group expand IP/MPLS network

24/12/2017

Zain Group and Cisco announced that they have successfully achieved a key milestone in expanding the telecommunications operator’s IP/MPLS network with cutting edge technologies, setting the groundwo

Saudi Gazette

Ticker Price Volume
QNBK 159.03 10,763
CHUBB 22.72 29,662
SABIC 128.20 3,326,229
EEC 19.68 2,551,088
SARCO 48.30 2,968,346
HOKAIR 21.52 1,173,648
BURUJ 30.10 49,238
ZAIN.TASI Sector Market
P/E
Price/BookValue
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
STC 87.20 0.20 (0.22%)
EEC 19.68 0.46 (2.39%)
ATHEEB 5.35 0.00 (0.00%)
DU catalyzes its digital transformation journey

15/07/2018

du, from Emirates Integrated Telecommunications Company (EITC), in collaboration with Cisco, on Friday unveiled a white paper outlining its transformational journey towards becoming an ‘ICT service p

Saudi Gazette

KIB closing its $250 mln Murabaha

15/07/2018

KIB held an exclusive ceremony to mark the occasion of the Bank’s successful closing of a $250 million 3-year syndicated Murabaha financing facility. This landmark financing was concluded with a cons

Arab Times

BMW partners with SABB to empower women drivers

12/07/2018

Mohamed Yousuf Naghi Motors (MYNM), the official BMW Group importer in Saudi Arabia, recently partnered with SABB (Saudi British Bank) to host two female-only events with the aim of empowering women

Saudi Gazette

Drake & Scull confirms financial violations by previous management

12/07/2018

Dubai contractor Drake & Scull International said its former management was involved in “material” financial violations that are currently under investigation by the designated UAE authorities.
<

The National

Barwa Bank wins ‘Excellence in Diversified Islamic Services & Products in Qatar’ award

12/07/2018

Barwa Bank has been recognised with the ‘Excellence in Diversified Islamic Services and Products in Qatar’ award at ‘The Arab Banks Awards & Commendations of Excellence 2018’, organised recently by t

Gulf Times