Zain Saudi, the kingdom’s third-biggest telecommunications operator, has appointed Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer as chairman.
The prince will replace Farhan bin Naif al-Jarbaa, who submitted his resignation on Oct. 11, a statement to Riyadh’s bourse said.
Zain Saudi, part-owned by Kuwait’s Zain, reported a narrowing third-quarter loss on Wednesday as it increased its subscriber base and margins improved.
Bader bin Nasser al-Kharafi, a member of Kuwait’s Kharafi family which is a major shareholder in Zain, has been appointed Zain Saudi’s vice-chairman, the statement added.
Reuters
