|
|
|
|
|
Honoring Excellence: Zain Group's Sam Deeb Awarded 'Mena CfO Of The Year'
Published Nov 24, 2009
|
Mr Sam Deeb, Chief Financial Officer (CFO) of the Zain Group has been awarded the prestigious ‘MENA CFO of the Year’ at the annual CFO Middle East Forum organized by the Monaco based Naseba Group. The award acknowledges excellence in finance and recognizes the contribution the CFO has made towards the outstanding success of their organization.
“The award honors an individual who has been a trusted guide, an influential mentor and a strategic executive, instrumental in the successful growth of his company,” said the MENA panel of judges. “Sam Deeb has played a pivotal role in Zain’s illustrious success, adding to a career of extraordinary performance and exceptional results.”
Deeb, who joined Zain (then MTC) in June 2003, has been a key driver and critical component in Zain’s success story over the past six years, a period that has seen the company grow from a single mobile operator in Kuwait with 600,000 customers in 2003, to a multi-billion dollar conglomerate spanning 23 countries in the Middle East and Africa, serving over 70 million customers and expected revenues of over US$8 billion for 2009.
During Deeb’s tenure as CFO, Zain’s market capitalization and annual revenues have increased tenfold making it the largest company on the Kuwait Stock Exchange on many financial indicators. Since 2003, he has lead all the company’s expansion fundraising dealings securing over US$25 billion during this period. With his strong treasury background and an impeccable track record in raising finance, he has earned the distinction and reputation of being an excellent negotiator and a wise manager of corporate growth, not only by his industry peers, but by the international financial community.
His standout achievements include – in spite of the global economic crisis – managing this summer’s US$ 2.5 billion Murabaha facility from eight regional and international financial institutions, in what was one of the largest Islamic finance deals of 2009. Other career landmarks include the March 2008 US$ 2.5 billion bridging facility to acquire the 3rd KSA mobile license, and the June 2006 US$ 4 billion credit facility, nominated Deal of the Year by Banker magazine.
But Deeb’s achievements have not all been about the boardroom. Zain’s vision involves improving social and economic well-being in line with commercial success. “As the company’s CFO he was able to see beyond the bottom line and understand the vital importance of being a good corporate citizen as well as a rigorous financial operator,” the panel concluded.
Posted by
VMD - [Virtual Marketing Department]
|
|
|
