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More than 90 senior executives and board members were on the list of the highest-paid executives of Saudi-listed firms in 2022, data compiled by Argaam showed.
The list was led by Ibrahim Al Hudaithi, a non-executive board member at Saudi Automotive Services Co. (SASCO), and Sultan Al Hudaithi, Managing Director of SASCO, who earned SAR 12 million and SAR 11.53 million, respectively, by the end of 2022.
These payments also included a non-recurring bonus for the staff working on the acquisition of 80% of NAFT Services Co. Ltd.
Muhammad Abdelellah Al-Khereiji, an executive board member at Arabian Contracting Services Co. (Al Arabia), came third with SAR 8.96 million in 2022.
Meanwhile, Abdullah Al Othaim Markets Co.’s CEO Muwaffaq Mansour came fourth with salaries, short-term incentive plans and end-of-service allowances worth SAR 7.73 million.
The following table shows the ranking of the highest-paid executives, excluding the companies that have not disclosed details:
|
Top-Paid Executives in 2022 (SAR mln) |
||||||
|
Company |
Executive |
2021 |
2022 |
Title |
Notes |
|
|
SASCO |
Ibrahim Al Hudaithi |
0.24 |
12.44 |
Chairman, Head of Executive Committee |
Includes a non-recurring bonus for the staff working on the acquisition of 80% of NAFT Services |
|
|
Sultan Al Hudaithi |
2.76 |
11.53 |
Executive Board Member/ Managing Director |
Includes an exceptional bonus for the staff working on the acquisition of 80% of NAFT Services Company Ltd |
||
|
Al Arabia |
Muhammad Abdelellah Al-Khereiji |
2.12 |
8.96 |
CEO, Executive Board Member |
Bonuses and short-term incentive plans at SAR 8.2 mln |
|
|
Al Othaim |
Muwaffaq Bin Mansour |
-- |
7.73 |
CEO |
Salaries, short-term incentive plans and end-of-service benefits |
|
|
Seera |
Majed bin Ayed Al-Nefaie,
|
2.42 |
6.63 |
Executive Board Member |
Included SAR 6.1 mln for consultancy, technical and administrative works |
|
|
SASCO |
Riyadh Almalik |
3.46 |
6.47 |
CEO |
Salaries and includes a non-recurring bonus at SAR 4.3 mln for the acquisition of a stake in NAFT Services
|
|
|
SRMG |
Abdulrahman Ibrahim Rwaita |
6.32 |
6.32 |
Chairman |
SAR 6 mln in Chairman bonus, and other allocations |
|
|
Al Akaria |
Ibrahim Al Alwan |
3.60 |
5.76 |
CEO |
Salaries, allocations, bonuses, in-kind privileges (a car) |
|
|
Seera |
Abdullah Aldawood
|
1.22 |
5.70 |
Executive Board Member |
Salaries, allocations, and bonuses |
|
|
Saudi Paper |
Yousseri Abdel Hamid Abdel Aziz El Bishry |
4.11 |
5.51 |
CEO |
Salaries, allocations, in-kind privileges, and end-of-service benefits |
|
|
SNB |
Ammar A. AlKhudairy |
8.50 |
5.50 |
Chairman, Head of Executive Committee, & Representative of PIF |
Fixed amounts and allocations |
|
|
Herfy |
Moataz Qusay Al-Azzawi |
0.33 |
5.34 |
Chairman |
SAR 5 mln in additional bonus to the Chairman, in addition to other allocations |
|
|
Nayifat Finance
|
Abdulmohsen Al Dosari |
-- |
5.31 |
Former Executive Board Member |
Salaries, allocations, bonuses, end-of-service benefits, short- and long-term incentive plans. Resignation dated June 22, 2022 |
|
|
SISCO |
NA |
-- |
5.23 |
CEO |
Salaries, allocations, in-kind privileges, and end-of-service benefits |
|
|
Takween |
Jameel Al Mulhem |
4.10 |
4.42 |
Managing Director |
Salaries, allocations, short-term incentive plans and end-of-service benefits |
|
|
AlJazira Takaful
|
Sagar Shah
|
4.46 |
4.17 |
Executive Board Member, Managing Director |
Bonuses and allocations |
|
|
Emaar EC |
Cyril Piaia
|
-- |
4.01 |
CEO |
Salaries, allocations, in-kind privileges, and benefits. |
|
|
MEPCO |
Sami Ali Al Safran |
4.01 |
3.99 |
CEO |
Salaries, allocations, in-kind privileges, and end-of-service benefits. |
|
|
BSF |
Mazin Abdulrazzak AlRomaih |
3.79 |
3.80 |
Chairman |
SAR 3.75 mln bonus disbursed for the Chairman
|
|
|
Yanbu Cement |
Ali bin Abdullah Al-Ayed |
3.13 |
3.64 |
CEO |
Salaries, allocations, in-kind privileges and end-of-service benefits |
|
|
Alinma Bank |
Abdulmalek bin Abdullah Al-Hogail
|
2.50 |
3.50 |
Board Member |
SAR 3 mln worth of a non-recurring bonus to the Chairman in addition to other allocations |
|
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