Zain’s board accepts Al Barrak resignation

Zain’s board of directors accepted the resignation of managing director and deputy chairman Saad Al Barrak, a development that will become effective as of March 1, 2010.

The board called on the ‘reserve member’ for the interim and also discussed the creation of the new position of CEO of Zain Group, the holder of which would succeed Al Barrak. However, the board members decided to defer naming Al Barrak’s successor until its next meeting.

The board expressed its appreciation of all that Al Barrak had achieved for the company over the past seven years, in particular his ambitious 3x3x3 strategy and the role he has played in transforming the group’s performance to match that of the world’s major international telecommunications companies.