Saudi Telecom Company (STC) has named Olayan Mohammed al-Wetaid as the new group CEO, following Nasser al-Nasser who resigned in November citing personal reasons.
Wetaid will start in his new position on March 28, the company said in a statement to Tadawul.
It said that Wetaid has more than 20 years’ experience in the industry and worked at Saudi Aramco before joining STC.
He holds various positions and is currently the senior VP of the consumer unit at STC and was previously CEO of STC Bahrain.
He also heads several STC subsidiaries, such as Channels, Intigral Middle East, and Contact Center Company CCC), and is a board member and deputy chairman of STC Pay. He also chairs several committees of the boards of directors of the group's subsidiaries.
Wetaid holds a bachelor's in electrical engineering from King Fahd University of Petroleum and Minerals (KFUPM) and has many certifications in the field of ICT, leadership, and strategic planning.
Saudi Telecom Company, the third-largest company listed in the Saudi market, recorded a slight increase in profits to $2.240 billion by the end of the first nine months of last year, compared to $2.225 billion achieved during the same period of 2019.