Riyadh – Mubasher: Etihad Etisalat (Mobily) on Sunday announced the appointment of a new CEO after its current one resigned.
CEO Ahmed Abou Doma “will step down to make way for Engineer Salman Abdulaziz R. AlBadran as its new CEO,” Mobile said in a filing to the Saudi Stock Exchange (Tadawul).
Abou Doma will continue supporting Mobily as a chief advisor to the telecom’s board in the coming period in order to ensure a smooth transition for Al Badran, whose appointment is effective 1 April 2019, the firm added.
“Engineer Abou Doma led the company through a clear vision and strategy to successfully deliver strong and consistent improvement of its operational and financial performances over the last 2 years, confirming that the company is on the right trajectory,” Mobily added in its statement.
The newly-appointed CEO Salman AlBadran is an experienced Saudi executive with a long track record of over 17 years in the telecoms and ICT industry.
Mobily recently reported turning to profitability in the fourth quarter of 2018 with SAR 80 million ($21.33 million) against a loss of SAR 182 million ($48.52 million) in the prior-year period. For the full-year 2018, the Saudi-listed telecom operator reduced its losses by as much as 83% to SAR 123 million from SAR 709 million in 2017.
Mobily’s stock last closed Thursday in the green, adding 0.22% to SAR 18.12.
