TAM accepts CEO resignation, appoints Firas Almatrafi as successor

Under the leadership of the newly appointed CEO, TAM Development is strengthening its structure

TAM Development Co. said its board accepted the resignation of CEO Abdullah Yousef on April 14, according to a statement to Tadawul.

Yousef will remain as managing director and a board member, supporting the leadership transition and providing strategic guidance in line with the company’s long-term plans.

The board, based on a recommendation from the remuneration and nomination committee, appointed Firas Almatrafi as CEO effective April 15, as part of its strategy to drive growth.

Almatrafi brings more than 16 years of executive leadership experience, with a focus on transforming traditional professional services firms into scalable, technology-driven businesses. He most recently served as chief operating officer of AHAD Business Services, the business solutions arm of THIQAH, where he led a similar transformation, scaling solutions-based offerings and managing multi-year engagements exceeding SAR 1 billion across sectors including real estate, healthcare, and government services.

He is known for translating strategy into scalable, revenue-generating models and has worked closely with boards and executive committees to strengthen governance and improve organizational performance. He also serves on the boards of several special purpose vehicles and the Managed Services Center (MSC). He holds an MBA from IE Business School in Madrid and completed Harvard Business School’s General Management Program.

The company said the leadership changes aim to strengthen execution and support its next phase of growth as a technology-enabled solutions provider, adding it is enhancing its structure to scale offerings, accelerate delivery, and capitalize on opportunities across key sectors.