Sultan bin Abdulaziz Al-Deghaither, the CEO credited with transforming Zain KSA, has passed away, the mobile telecommunications operator announced. Al-Deghaither, who led the company for six years, was instrumental in eliminating over SR2 billion ($532.6 million) in accumulated losses and tripling its market capitalization.
In a statement on its X account, Zain KSA expressed profound sorrow: “With deep sorrow and sadness, the Zain Saudi family mourns the loss of its CEO, Eng. Sultan bin Abdulaziz Al-Deghaither.”
Al-Deghaither joined Zain KSA in 2009 as Director of Network Planning and became CEO on July 1, 2018. His tenure saw Zain KSA rise to become the 13th most powerful brand in Saudi Arabia. In addition to his role at Zain KSA, Al-Deghaither served as Managing Director of Tamam Finance Co. Ltd., where his expertise significantly advanced the fintech sector.
The board of directors of the Saudi Tadawul Group Holding Co., where Al-Deghaither was an independent board member and chairperson of the Nominations and Remunerations Committee, also expressed their deep sorrow. The group will announce updates regarding the appointment of a new board member and committee chairperson in due course.
KSA Huawei extended its condolences on X, expressing heartfelt sympathy to Al-Deghaither’s family.
In his final post on X, Al-Deghaither, a board member of Al-Nassr FC, congratulated Saudi Arabia, Crown Prince Mohammed bin Salman, and Minister of Sport Prince Abdulaziz bin Turki bin Faisal on the submission of the Saudi bid to host the FIFA World Cup 2034. “This achievement reflects our great aspirations and ambitious vision to share with the world,” he wrote.
With 19 years of experience, Al-Deghaither had a distinguished track record in executive, operational, and technical management. He spearheaded pioneering projects that positioned Zain KSA at the forefront of the telecom industry in Saudi Arabia. His strategic vision fostered significant investment in innovative technologies and digital solutions, including cloud computing, 5G applications, the Internet of Things, artificial intelligence, blockchain, and drones.
Al-Deghaither transformed Zain KSA from a telecom company to an integrated digital ecosystem, bolstering new technology sectors in the Kingdom. In 2022, he led a strategic partnership between Zain KSA and gaming and esports hub PLAYHERA, resulting in the establishment of PLAYHERA MENA.
Al-Deghaither also launched Tamam, the first consumer micro-financing entity in the Kingdom and the Middle East, achieving record profits in a short time. He championed the empowerment of Saudi women in leadership roles within Zain KSA, strengthening their presence in the telecommunications sector.
Ranked among the top 300 CEOs in the telecommunications sector by MENA TRNDS, Al-Deghaither held a bachelor’s degree in telecommunications and electrical engineering from King Saud University and an advanced management program degree from IESE Business School in Spain.
Al-Deghaither’s passing marks a significant loss for Zain KSA and the broader telecommunications and fintech sectors in Saudi Arabia.
