Zain MD Quits

KUWAIT -- The Board of Directors of Mobile Telecommunications Co. “Zain” held a meeting at 13:00 on Thursday, February 4, 2010 to discuss the resignation submitted by the company’s Managing Director and Vice Chairman, Dr. Saad Al Barrak. Following extensive deliberation among the board members, the resignation was accepted and will be effective March 1, 2010.

The Board, in accordance with the company’s Articles of Association has called on the 'Reserve member' for the interim and also discussed the creation of the new position of Chief Executive of Zain Group, the holder of which would succeed Dr Al Barrak in undertaking the executive management of the Group. The members of the Board however decided to defer naming Dr Al Barrak’s successor until its next meeting.

The Board of Directors made it clear its appreciation of all that Dr. Saad Al Barrak had achieved for the company over the past seven years, in particular his ambitious 3x3x3 strategy and the pivotal role he has played in transforming the Group’s performance to match that of the world’s major international telecommunications companies. In doing so, Dr Al Barrak made Zain the 4th largest mobile network in the world in terms of geographic presence.

Zain Group