Monday, June 14, 2010

KFIC: Sana Juma Resigns as CEO

KFIC announced on the DFM today that its CEO Sana Alaa AdDin Tawfiq Juma had resigned effective 13 June 2010.  No word on her replacement.   There doesn't appear to be an announcement on the KSE.

You'll recall from an earlier post that AlQabas had predicted her imminent departure.  You can access other posts on this Company by using the label KFIC to search.

A helpful reader has pointed out in the comments below - that Ms. Juma also resigned from Kuwait International Bank's Board due to insufficient shares in KIB to serve as a director.

5 comments:

Anonymous said...

Hi. This post could well have a Kuwait International Bank label, in relation to an earlier post on possible reasons for her not to manage to bring enough shares as a board member in the bank: http://suqalmal.blogspot.com/2010/04/kuwait-international-bank-board.html
and she is still a resigned member http://www.kuwaitse.com/PORTAL/A/Stock/Stock.aspx?Stk=106. Aysh ra2yak?

The Rageful Cynic said...

There was a rumor going around yesterday that a handful of Zain directors had left the company..

no official word on it, but the rumor might be enough to explain the awful performance on the KSE yesterday.

The Sana Juma resignation was on Reuters yesterday, saying the statement had been made to the DFM.

Abu 'Arqala said...

Anonymous

Indeed it should have. I have to begin paying closer attention.

And thanks as well for alerting me to the recent progress in Kuwaiti corporate governance with the creation of the post of Resigned Director.

Abu 'Arqala said...

TRC

With the statement on the KSE today.
A bit strange considering that the KSE is the "main board" for KFIC.

The Rageful Cynic said...

agreed, but it is Kuwait so... :)

also, apparently 5 Zain directors have "left" the firm.... don't know when an official announcement will be made or who they are, but considering Zain's stock performance these past few days, the people who do know are not impressed with the firm's "new focus"....