Zain Saudi shareholders approves new remuneration policy

Shareholders of Mobile Telecommunication Co. Saudi Arabia (Zain Saudi) approved the updated nomination and remuneration committee charter at its ordinary general meeting (OGM) on December 21, the company said in a statement to Tadawul on Sunday.

Shareholders also approved the remuneration policies for board and committee members and executive management along with the updated policies, standards and procedures for membership in Zain Saudi board, it added.

In October, Zain Saudi reported a net profit of SAR 57 million in the first nine months of 2017, compared to a net loss of SAR 844 million in the same period last year, due to higher revenue from stronger demand for products and services.