Saudi Cable restructures exec management; names Khalid Khashoggi as Acting CEO

Logo of Saudi Cable Co.

Saudi Cable Co. announced restructuring its executive management by eliminating the CEO position, terminating CEO Fawaz Al-Muqbil under Article 77 of the Labor Law due to minimizing administrative positions as the company undergoes bankruptcy, therefore naming Khalid Khashoggi as Acting CEO besides his role as Managing Director.

In a statement to Tadawul, Saudi Cable said the Acting CEO will undertake his new duties as of today, Aug. 5.

Khashoggi has 22 years of experience in corporate establishment and management inside and outside the Kingdom. He has held various positions in operations, sales, senior management, project management, and board memberships in Saudi Arabia, Canada, and the US.

His career includes roles at Calline Capital (Canada) and Saudi-listed Thimar Holding Co. He was also previously named CEO of Oak Co., the statement added.

Khashoggi was a former member of the Saudi-British, Saudi-French, and Saudi-Canadian Business Councils. He currently serves as the Managing Director of Saudi Cable; a member of the executive committee and Vice Chairman of Thimar; and Chairman of the nominations and remuneration committee; and a member of Methanol Chemicals Co.’s (Chemanol) marketing committee