More than 35 Saudi-listed firms witnessed the departure of Chief Executive Officers (CEOs) in 2021 for personal or business-related reasons, data compiled by Argaam showed.
The listed firms saw the resignations of 38 CEOs last year, with the materials sector recording the largest number at six resignations. The insurance sector came second with five resignations during the same period.
The following table indicates the resignations of Presidents and Executives of listed companies in 2021:
|
CEOs resignation in 2021 |
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|
Company |
CEO |
Resignation date |
Reasons |
New CEO |
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|
Energy |
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|
Petro Rabigh |
Nasser Al Mahasher |
Jan. 1 |
Personal reasons |
Othman Al-Ghamdi |
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|
Materials |
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|
BCI |
Osama Farouk Abdulhamid |
Jan. 20 |
Personal reasons |
Abdulatif Azmi Abdulatif Abdulhadi |
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|
Maaden |
Mosaed Al-Ohali |
April 25 |
Personal reasons |
Abdulaziz Al Harbi |
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|
Zoujaj |
Yousef Al-Tuwaijri |
May 26 |
Personal reasons |
Bassam M. AlBassam |
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|
Sipchem |
Saleh Bahamdan |
Jan. 1 |
Retirement |
Abdullah Alsaadoon |
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|
Umm Al-Qura Cement |
Fawaz Almutairi |
Sept. 1 |
Personal reasons |
Majid Gharbawi |
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|
Yanbu Cement |
Ahmed bin Abdo Zugail |
March 27 |
Personal reasons |
Ali Bin Abdullah Al-Ayed |
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|
Capital Goods |
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|
Amiantit |
Solaiman Altwaijri |
Oct. 31 |
Personal reasons |
Osama Al-Onaize |
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|
MESC |
Fawaz bin Mubarak Al-Muqbil |
Dec. 2 |
Personal reasons and unwilling to renew contract |
-- |
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|
Commercial and Professional Services |
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|
Maharah |
Abdulkarim Alnujaidi |
July 14 |
To devote his efforts to his private business |
Abdulaziz Alkathiry |
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|
Consumer Durables |
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|
Naseej |
Marc Henri Verleyen |
April 1 |
Personal reasons |
Yasir Osama Al-Sebaei |
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|
Yasir Osama Al-Sebaei |
Nov. 18 |
-- |
Monther Mohammed Abdallah Al Sorayai |
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|
Consumer Services |
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|
Seera |
Abdullah bin Nasser Al-Dawood |
April 5 |
Assigned additional supervisory and leading tasks |
Majed Al Nefaie |
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|
Herfy |
Ahmed Bin Hamad Al-Said |
April 25 |
Lack of agreement in points of view |
Khalid Al Saeed |
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|
Leejam |
Justin Musgrove |
June 10 |
Personal reasons |
Anthony Elliott |
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|
Ataa Educational |
Ibrahim Al-Turki |
Dec. 13 |
Personal reasons |
Fahad Al-Tuwaijri |
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|
Food Retailing |
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|
Al Othaim |
Abdulaziz AlOthaim |
Sept. 30 |
In line with the board's approach to raising the level of governance, promoting the principle of segregation of ownership and management, and his desire to devote his efforts to own business |
Mohsen Husain |
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|
Mohsen Husain |
Dec. 17 |
Family reasons |
Muwaffaq Mansour Jamal |
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|
Thimar |
Sari Al-Mayouf |
Oct. 15 |
Personal reasons |
-- |
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|
Food Production |
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|
Savola |
Anees Bin Ahmed Moumina |
Jan. 1 |
Personal reasons |
Waleed Fatani |
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|
Wafrah |
Migid Ibrahim Ramthan AI Otaibi |
Dec. 10 |
Personal reasons |
- |
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|
SADAFCO |
Waltherus Matthij |
Oct. 31 |
Retirement |
Patrick Stillhart |
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|
Banks |
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|
SABB |
David Dew |
May 23 |
Retirement |
Tony Cripps |
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|
ANB |
Robert Maroun Eid |
Feb. 2 |
Personal reasons |
Obaid Alrasheed |
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|
Alinma Bank |
Abdulmohsen Abdulaziz Al-Fares |
Jan. 3 |
Personal reasons |
Abdullah Alkhalifa |
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|
Insurance |
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|
Salama |
Omar Al Ajlani |
Nov. 30 |
Personal reasons |
Bader Alanzi |
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|
Arabian Shield |
Basem Kamel Odeh |
Jan. 1 |
In line with the company’s replacement and Saudization plan for leading positions approved by the board on Jan. 2, 2018 |
Basel Abdullah Abdulkareem |
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|
ACIG |
Hesham Mohammad Al Shareef |
Aug. 31 |
Personal reasons |
Mohammed Bin Abdullah Al Qadi |
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|
SAICO |
Hassan Abdullah Al-Somali |
Dec. 31 |
Retirement |
-- |
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|
Gulf Union Alahlia |
Munir Al-Borno |
June 15 |
Retirement |
Mesheal AlShayea |
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|
Telecom |
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|
stc |
Nasser Al Nasser |
March 28 |
Personal reasons |
Olayan AlWetaid |
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|
Utilities |
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|
Saudi Electricity |
Fahad Al-Sudairi |
June 7 |
Personal reasons |
Khaled bin Hamad Al-Gnoon |
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|
Real Estate |
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|
ARDCO |
Ali bin Abdullah Al Hassoun |
Sept. 25 |
Unwilling to renew contract |
Jihad Al-Qadi |
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|
Emaar EC |
Ahmed Bin Ibrahim Linjawy |
April 12 |
Personal reasons |
Cyrill Piaia |
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|
Red Sea |
Tareq M. Telmesani |
May 1 |
Personal reasons |
Khalid Fagih |
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|
Knowledge EC |
Sami Abdul Aziz Al Makhdoub |
Sept. 30 |
Personal reasons |
Mohammad Al-Mubarak |
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|
Nomu-CEOs Resignations in 2021 |
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|
Company |
CEO |
Resignation date |
Reasons |
New CEO |
|
Public Utilities |
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|
Natural Gas Distribution |
Abdul Rahman bin Rashid Al Balawi |
Dec. 14 |
Personal reasons |
Raed Al Mubarak |
|
Capital Goods |
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|
National Building |
Mohammad Alawwad |
Jan. 25 |
Personal reasons |
Meshaal bin Abdul Rahman AlOqla |
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