Nabeel Bin Salama, CEO of Zain Group since February 2010, is set to quit the role when his contract expires in February 2013.
The telco said that the CEO had “expressed his wish to not renew his contract as Group CEO”.
The announcement followed closely from the release of Zain Group’s Q3 results, which revealed slight declines in profits and revenues for the first nine months of the year.
“Zain Group announced today that the CEO Nabeel bin Salama has expressed his wish to not renew his contract, ending February 2013, which concludes 3 years in the service of Zain,” the telco said in a statement.
“Zain Group pointed out that Bin Salama expressed this desire during the board meeting […] which was aimed at discussing and approving the Q3 2012 financials,” the statement added.
“Zain Chairman, Asaad Al-Banwan and the board members thanked Bin Salama for his valuable contributions and services to Zain throughout.”