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Kuwait Finance House CEO Steps Down – Sources

Kuwait Finance House CEO Steps Down – Sources

Mohammed al-Omar’s resignation as CEO is linked to wider management changes at KFH, one of the sources said.

The chief executive of Kuwait Finance House, the Gulf state’s largest Islamic lender, has stepped down, two company sources said on Thursday.

Mohammed al-Omar’s resignation is linked to wider management changes at KFH, one of the sources said, adding that chief operating officer Anwar al-Ghaith would take up the CEO role on an acting basis.

Comment could not immediately be obtained from KFH. Omar had been CEO since 2008 and had spent most of his career at the company, according to its annual report.

The company reported a 13 percent rise in first-quarter net profit on Saturday. The 26.06 million dinars ($92.6 million) which it made in the first three months of the year missed analysts’ estimates in a Reuters poll.

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