Telecom Operator Zain Group announced the restructuring of the top management by removing Scott Gegenheimer from the position of CEO and by appointing him in new role of CEO of operations.
Zain, which has strong investment plans to bolster revenue from mobile internet, has appointed Mohannad Mohammed Al-Kharafi as chairman, Bader Nasser Al- Kharafi as vice-chairman and CEO and Scott Gegenheimer as CEO of operations.
Earlier, Scott Gegenheimer was the CEO of Zain Group. The company did not reveal reasons for removing him from the position of CEO.
Zain Goup's net profit increased 2 percent to KWD 157 million or $519 million, while revenue was KWD 1.1 bilion with EBITDA of KWD 512 million that grew 3 percent in 2016. Zain Group's customer base grew by 3 percent, reaching more than 47 million customers.
Zain continues to be a market leader with respect to market share in five of its eight markets of operation.
Zain has identified service provision in the smart cities space and in B2B/ enterprise sector.