Arriyadh Development board accepts CEO’s resignation

Logo of Arriyadh Development Co.

The board of directors of Arriyadh Development Co. (ARDCO), approved today, March 3, 2021, the non-renewal of CEO Ali bin Abdullah Al-Hassoun's contract, which expires on Sept. 25 2021.

Al-Hassoun tendered his resignation, which will come into effect on Sept. 25, for personal reasons. He will continue as a board member, the company said in a bourse filing.

Al-Hassoun assumed the position as the company's CEO for more than ten years, during which the company made qualitative leaps in profits and the value of investment property, the company added.