(MENAFN - Arab News) Saud Al-Daweesh, CEO of Saudi Telecom Company (STC), has resigned, it was announced yesterday. STC's board of directors has accepted his resignation, the announcement said. The resignation will be effective from Oct. 1, 2012.
"Al-Daweesh requested the resignation from Oct. 1, 2012 and the board held supervisory discussions and accepted his resignation from the mentioned date," the announcement said.
The chairman and board members expressed their gratitude toward Al-Daweesh for the efforts he exerted during his term as chief executive of the company, during which STC witnessed remarkable achievements.
The company progressed from a local operator to an international one, working in 11 countries. During his time, the number of STC customers reached 160 million while its revenues doubled to reach SR57 billion.
STC also noted that Al-Daweesh exerted tremendous efforts to make it a pioneering company offering modern and innovative services, like 4G and 3G as well as fiber optic and multimedia services.
Al-Daweesh chaired the group for two straight periods during which STC won many awards and international recognitions. He joined the company in February 2006. He holds an engineering degree from University of Southern California and has more than 25 years experience in the telecommunication field.
Gulf Business magazine listed Al-Daweesh among the top 100 personalities in the Middle East in 2011, considering his exceptional contributions toward the communications sector.