Emaar EC CEO is top-paid executive; Almarai moves down

As many as twenty chief executives were on the list of the highest-paid executives working for Saudi-listed firms in 2016, data compiled by Argaam showed.

Emaar The Economic City’s (Emaar EC) chief executive, Fahd Al-Rasheed, has topped the list, moving up one notch from 2015, with SAR 17.78 million in compensation and SAR 12.5 million in regular bonus.

Meanwhile, Abdul Rahman Al Muhanna, Almarai’s board member, moved from #1 position in 2015 to the ninth place as he received SAR 3.29 million in compensation, compared to SAR 20 million in 2015.

Azzam Al-Dakhil, the former managing director of Saudi Research and Marketing Group (SRMG), came second on the list with a total pay of SAR 13.70 million. Al-Dakhil stepped down from his position on Jan. 29, 2017.

David Dew, who serves as the managing director of The Saudi British Bank (SABB), followed as he received SAR 9.58 million in total compensation, compared to SAR 6.97 million in 2015.

Herfy Food Services’ chief executive and managing director, Ahmad Al Saeed, who ranked third in 2015, was paid SAR 8.30 million in salary and bonuses for the same period.

The list included other executives in Abdullah Al Othaim Markets Co., Budget Saudi, Fitaihi Group and Northern Region Cement.

The ranking, which is measured by salaries and bonuses, is not comprehensive as only some companies disclose detailed information on executive compensation.