Mobily’s CEO, Khaled al-Kaf, denies reports of resignation

Khaled al-Kaf, the chief executive officer of Etihad Etisalat (Mobily), the second-biggest mobile phone company in Saudi Arabia, denied reports that he had resigned, according to an interview with al-Arabiya television.

Unconfirmed reports have recently circulated about Mr al-Kaf’s resignation following the promotion of Serkan Okandan to deputy chief executive officer.

The Saudi Capital Market Authority has started investigating allegedly irregularities committed by Mobily, whose 3rd quarter results came out later and lower than expected.

Trading on Tuesday resumed on Mobily, an affiliate of the United Arab Emirates’ Etisalat, after suspension, according to Argaam.