STC CEO Jameel Al-Molhem resigns

Updated 03 February 2013

STC CEO Jameel Al-Molhem resigns

Jameel Abdullah Al-Molhem, CEO of STC KSA Operations, tendered his resignation to the telecom operator yesterday.
Saudi Telecom Co. (STC) is a Saudi-based telecommunications company that offers landline, mobile and Internet services.
Confirming the resignation, an official from the STC told Arab News that the reasons for his resignation were not known.
Al-Molhem’s resignation follows a string of resignations that occurred last year.
Last April Saud Al-Daweesh, CEO of Saudi Telecom Company (STC) submitted his resignation and STC’s board of directors accepted it effective Oct. 1.
Last August, the company announced a number of changes within its management structure involving executive positions. The STC Group announced that it had accepted the resignation of Ghasan Hasbani from his role as Group CEO-international operations due to the end of the contractual period.
In September, Dr. Ziad Al-Otaibi group CEO for technical operations also resigned. Otaibi’s resignation was preceded by Dr. Saad Bin Dhafer Al-Qahtani Group CEO for strategic affairs .
Last year, Al-Molhem launched the first Drive-Thru Self-Service Machine, at AlShate’ venue in Dammam, that provides more than 35 services for mobile and fixed-line customers, which was considered the first of its kind in the Middle East and boosting STC’s pioneer services among the regional telecom-operators.
“The Drive-Thru Self-Service Machines are considered as one of the latest innovative and advanced solutions STC offers to its customers, and being the pioneer and the sole operator in the region to offer such a distinguished and creative service,” Al-Molhem stated at the time. “Our inauguration comes in-line with STC’s overall strategy to meet our customers’ expectation and needs through direct and instant ease-designed services.
In January, STC reported 6.7 percent increase in revenues reaching SR 59,372 million compared to SR 55,662 million for the previous year. The increase in revenues, is attributed to the growth in Broadband (fixed and mobile), Business and wholesales services domestically and from international operations.
Gross profit for fourth quarter and full year increased by 2.6 percent and 7.2 percent respectively, reaching SR 8,144 million and 33,597 million consecutively compared to same periods the previous year.
The net income for the fourth quarter amounted to SR 468 million compared to SR 2,278 million for the corresponding quarter last year, with a decrease of 79 percent , and for the year, net income amounted to SR 7,350 million compared to SR 7,729 million for the corresponding period last year with a decrease of 4.9 percent.
STC operates through its five business units: Al Hatif, which includes landline services, card phones, public telephones, prepaid card services and business services; Al Jawal, which offers a range of mobile services, including Family Al Jawal, Sawa, messaging services, business services, data services and roaming services; Saudi Net, an Internet provider, STC Online for electronic bills payment services and Saudi Data, a provider of data solutions.


Saudi Arabia’s first female CEO makes Forbes 100 most powerful women

Updated 13 December 2019

Saudi Arabia’s first female CEO makes Forbes 100 most powerful women

Saudi Arabia’s first female CEO is named in Forbes 100 most powerful women in the world for a second time.

Rania Nashar, Samba Financial Group CEO, was ranked 97th in the list that also included 16-year-old climate change activist Greta Thunberg.

The list also included the United Arab Emirates’ Raja Easa Al-Gurg ranked at 84. The Emirati, who is a Board Member of the Dubai Chamber of Commerce and Industry, was also featured in the list in 2017.

The top 10 in the list included German Chancellor Angela Merkel and Christine Lagarde, who was newly appointed president of the European Central Bank.