Zain Saudi CEO to quit today

Saad Al-Barrak is to resign at the telecoms operator's board meet today, says report.
Saad Al-Barrak is also the former chief executive of Zain.
Saad Al-Barrak is also the former chief executive of Zain.

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Zain Saudi’s chief executive Saad Al-Barrak is expected to resign at a meeting of the telecoms operator's board on Tuesday, said a Reuters report quoting Kuwaiti newspaper Al-Rai.

The newspaper’s unsourced report stated: "Al-Rai newspaper has learned the CEO of Zain Saudi has expressed his desire to resign from his position during the board meeting expected today, due to undeclared reasons."

Barrak, who is also the former chief executive of Zain, was the architect of Zain's rapid expansion in the previous decade, when Zain claimed to be the fourth largest telecoms operator globally, covering operations in 23 countries.

A spokesman for Zain declined to comment on whether Barrak was expected to resign from his post at Zain Saudi, saying the latter's board was independent.

Zain Saudi is a unit of the Kuwaiti operator Zain which owns a 25% stake in the Saudi operation as well as holding management control.

Earlier in September this year, Bahrain’s Batelco Group and Kingdom Holding Company (KHC) withdrew a $950 million bid for a 25% stake in Zain KSA.

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