* Kabbani replaces outgoing CEO Fraser Curley
* Kabbani was former CEO of several MENA telcos
* Curley resigned for personal reasons - statement
DUBAI, Sept 1 Saudi Arabia's No.3 telecom
operator Zain Saudi has appointed industry veteran
Hassan Kabbani as chief executive with immediate effect, the
firm said in a statement on Sunday.
A native Arabic speaker from Lebanon, Kabbani replaces
Fraser Curley, who became CEO of the loss-making company in
Kabbani has been recruited to help Zain fight back against
better-resourced rivals Saudi Telecom Co (STC) and
Etihad Etisalat (Mobily). Zain Saudi had 16 percent of
the kingdom's active mobile subscribers at 2012-end, according
to the company's annual report.
Kabbani has held the post of CEO at several telecom
operators in the Middle East and North Africa, including Egypt's
Mobinil from 2008 to 2011 and Algeria's Djezzy from
2003 to 2008, according to his LinkedIn profile.
Prior to joining Zain Saudi, he was a board member and
advisor to Dubai-based Oger Telecom, which holds controlling
stakes in Turk Telekom and South Africa's Cell C.
Curley resigned with immediate effect on Sunday for personal
reasons, Zain Saudi's statement said.
In July, Zain Saudi - 37-percent owned by Kuwait's Zain
- agreed with lenders to extend an outstanding $2.3
billion Islamic loan facility for five years, while a month
earlier it also received government approval to defer payment of
licence-related fees that could total around $1.49 billion over
Zain Saudi's second-quarter net loss was 370 million riyals
($99 million), compared with a net loss of 394 million in the
corresponding period of 2012, as revenue rose 9 percent to 1.7
billion riyals. ($1 = 3.7505 Saudi riyals)
(Reporting by Matt Smith; editing by Keiron Henderson)