Almarai appoints Majed Nofal as new CEO

Almarai’s board of directors appointed Majed Mazen Nofal as the new Chief Executive Officer (CEO), effective from Jan. 1, 2020, the company said in a bourse statement on Monday.

Georges P. Schorderet, the current CEO, will hand over the responsibilities on Dec. 31, 2019, and will continue to serve as an advisor to the board of directors, the statement added.

Majed Nofal had joined Ernst & Young in Riyadh in 1992 and worked in the fields of audit and assurance services for 9 years, then he joined Western Bakeries Co. (L’usine) in Jeddah as CFO for 7 years. Following Almarai’s acquisition of Western Bakeries Co. he was appointed as CEO for approximately 4 years.

In 2010, he was appointed head of central procurement for Almarai and served in that capacity for 7 years. In 2017, he was appointed general manager – new businesses, and served at this capacity until his appointment as CFO in April 2019. In July 2019, Nofal was appointed as Deputy CEO.