SADAFCO says CEO retires, replaced by Patrick Stillhart

SADAFCO’s headquarters

Saudia Dairy and Foodstuff Co.’s (SADAFCO) board of directors approved the retirement request of its Chief Executive Officer (CEO) Waltherus Matthijs, effective Oct. 31, the company said in a bourse statement.

The board also approved appointing Patrick Stillhart as CEO of the company as of Nov. 1.

Matthijs will continue to provide direction and support to the company's business and to ensure a smooth transition of his duties to the new CEO, the statement added.

Stillhart brings more than 23 years of stable and progressive career experience in the branded food FMCG industry, the statement said.

He has held senior positions with Nestlé, Cereal Partners Worldwide (a joint venture between Nestle and General Mills), and DKSH.

He covered various businesses across Asia Pacific, Middle East, Africa and European markets, including cereals, coffee, confectionery, and ice cream businesses, SADAFCO added, noting that Stillhart graduated with a Bachelor's degree in marketing and an MBA from the University of St. Gallen, Switzerland.