Ghassan Hasbani resigns as CEO of STC International

STC Group has announced the resignation of Ghassan Hasbani from his position as CEO International Operations as his contract period approached its end. He is reported to have expressed interest in exiting the company to pursue other opportunities.

STC International Operations will now report to the Group CFO Krishnan Ravi Kumar effective September 1, 2012, until a permanent structure is identified as STC remains committed to its international investments and growth strategy. Kumar joined the Group early last July and brings with him 25 years of experience gained at senior positions at a number of international companies.

Hasbani will continue to support the organisation during a handover period which is expected to end in October. Hasbani was appointed to his role at STC International Operations in January 2010.

STC embarked on an international growth strategy in 2008 and by 2011 International Operations contributed 32 per cent of total Group revenues, with a particularly notable double digit growth in subscriber base reaching over 130 million.