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Kuwait's Zain names acting CEO for home operations

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By Syed Murtaza Gheblehzadeh
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zainDUBAI: Kuwait's Zain has named Omar al-Omar as acting chief executive of its domestic operations, the firm said on Sunday, replacing Khalid al-Omar who last week was appointed head of the telecoms operator's indebted affiliate Zain Saudi .

The reshuffle follows the departure of Saad al-Barrak. He quit as Zain Saudi CEO on Tuesday, having previously also been group CEO of the seven-country operator.

Zain is forecast to make a third-quarter profit of 71.91 million dinars, according to the average forecast of analysts polled by Reuters.

Zain shares were trading down 1 percent at 0650 GMT on the Kuwait bourse.

Copyright Reuters, 2011

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