Saudi Telecom chief executive resigns

Saudi Telecom Co (STC), the kingdom's largest telecom operator, said on Monday its chief executive has resigned but did not give a reason for his departure or name a successor. Saud al-Daweesh submitted his resignation on January 10 but the board did not accept it until Monday, the former state-owned monopoly said in a statement posted on the Saudi bourse website.
"Saudi Telecom announces that its group chief executive Saud al-Daweesh submitted his resignation as of 10 January 2010, and the board accepted it on April 2," said the statement, which praised Daweesh for growing the business to include 160 million customers.