Bahrain state telco hit by exit of more top executives | Reuters:
"Two more top executives at Bahrain's Batelco BTEL.BH have quit the firm, leaving lower level staff to run the former telecom monopoly as it tries to arrest a sustained profit slump and integrate its largest ever acquisition.
The company - formally called Bahrain Telecommunications Co - vies domestically with units of Kuwait's Zain (ZAIN.KW) and Saudi Telecom Co 7010.SE (STC) as well as about 10 internet providers on an island of 1.3 million people.
The competition has helped push down Batelco's net profit in 12 of the past 13 quarters.
The low-key summer departures of chief financial officer Marco Regnier and company veteran Peter Kaliaropoulos follow the abrupt resignation of former chief executive Sheikh Mohamed bin Isa al-Khalifa in May."
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