Olayan Alwetaid has served as CEO of Saudi Telecom Group (stc) since March 2021.
stc is the leading mobile operator in the Middle East region. Prior to his current role, Olayan was the senior vice president of the Consumer Business Unit, where he led a commercial turnaround programme focused on preserving mobile leadership, strengthening the residential fiber business, expanding digital and non-core services, and enhancing customer experience.
Alwetaid pioneered the B2C concept, delivering an end-to-end value proposition for consumers that integrated mobile and fixed connectivity, smartphones and devices, digital media, financial services, and direct carrier billing for a range of leading platforms.
Under Alwetaid’s leadership, stc reported strong financial results for the first quarter of 2025. Revenues reached SAR19.2bn, a 1.60 per cent increase compared to the same quarter last year. Gross profit rose by 5.01 per cent to SAR 9,098m, while operating profit reached SAR3.58bn, up by 2.02 per cent. EBITDA totalled SAR6.12bn, reflecting a 5.25 per cent increase. Net profit grew by 11.05 per cent to SAR3.6bn. The company declared a dividend of SAR 0.55 per share for the first quarter, in line with the dividend distribution policy approved by the general assembly.
Also under the GCEO’s guidance, stc group achieved several strategic milestones early in 2025, reinforcing its leadership in the telecommunications and IT sector. One standout achievement was the successful localisation of eSIM software in collaboration with Thales, making stc the first telecom operator globally to obtain SAS-UP licence certification from the GSMA.
Alwetaid noted that this milestone reflects the group’s commitment to supporting local content in the ICT sector by localising business operations and transferring technical expertise to Saudi Arabia.
As a leading digital enabler, stc was recognised among the top 10 most valuable telecom brands globally, according to the 2024 Brand Finance Report. This recognition aligns with stc’s ambition to lead on a global scale. For the fifth consecutive year, the group retained its title as the most valuable telecom brand in the Middle East, underscoring its sustained commitment to innovation and industry leadership.
The report places stc as the nineth most valuable telecom brand in the world and the strongest brand in the Middle East and Africa. stc also ranked third among the most valuable brands in the Middle East and second in Saudi Arabia. These distinctions highlight the group’s strategic progress and expanding influence in both regional and global markets.
