RIYADH: Zain KSA CEO Sultan bin Abdulaziz Al-Deghaither, who was credited with restructuring the company, has passed away, the mobile operator announced.
Al-Deghaither, who served as CEO for six years, led the company through a period of transformation, eliminating accumulated losses of over SR2 billion (US$532.6 million) and tripling its market capitalization.
In mourning the loss of the top official, the company posted on its X-account: “It is with deep sadness and grief that the family of Zain Saudi mourns the loss of its CEO, Eng. Sultan bin Abdulaziz Al-Deghaither.”
Al-Deghaither joined the company in 2009 as head of network planning and became CEO on July 1, 2018. Under his leadership, Zain KSA was voted the 13th strongest brand in Saudi Arabia, according to the company's website.
Al-Deghaither also served as Managing Director of Tamam Finance Co. Ltd, where he contributed his expertise to creating a success story in the fintech space.
The Board of Directors of Saudi Tadawul Group Holding Co., representing all its employees, expressed its deep sadness at the loss of Al-Deghaither, who also served as an independent board member and Chairman of the Group's Nomination and Remuneration Committee.
The Tadawul Group said it would announce further news regarding the appointment of a new board member and the chairman of its committee at a later date.
KSA Huawei also expressed its sadness over Al-Deghaither’s death in a post on its X account and offered its sincere condolences to his family.
In his last post on his X-account, Al-Deghaither, who was also a board member of Al-Nassr FC, congratulated Saudi Arabia, Crown Prince Mohammed bin Salman and Sports Minister Prince Abdulaziz bin Turki bin Faisal on submitting the Saudi bid to host the 2034 FIFA World Cup.
“This success reflects our great ambitions and our ambitious vision that we want to share with the world,” he said in his post.
With 19 years of experience, Al-Deghaither has a successful track record in executive, operational and technical management, leading several pioneering projects that placed Zain KSA at the forefront of the telecommunications industry in the Kingdom.
He developed a strategic vision for Zain KSA's business and drove significant investments in innovative technologies and digital solutions, including cloud computing and future 5G applications, including the Internet of Things, artificial intelligence, blockchain and drones.
He led the transformation of Zain KSA from a telecommunications company into an integrated digital ecosystem and served as a key pillar for the emergence and growth of new technology sectors in the Kingdom.
In 2022, he led the strategic partnership between Zain KSA and gaming and esports hub PLAYHERA, which led to the creation of PLAYHERA MENA.
Al-Deghaither promoted the country's fintech sector by establishing Tamam as the first micro-lending company in the Kingdom and the Middle East. He oversaw its expansion and operational plan, achieving record profits in a short period of time.
He was committed to promoting women in leadership positions in his company. Under his leadership, the role of Saudi women at the leadership level was strengthened and their presence in the telecommunications sector was increased.
Ranked among the top 300 CEOs in the telecom sector by MENA TRNDS, Al-Deghaither holds a bachelor’s degree in telecommunications and electrical engineering from King Saud University and a degree in the Advanced Management Program from IESE Business School in Spain.
