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

Company

CEO

Resignation date

Reasons

New CEO

Energy

Petro Rabigh

Nasser Al Mahasher

Jan. 1

Personal reasons

Othman Al-Ghamdi

Materials

BCI

Osama Farouk Abdulhamid

Jan. 20

Personal reasons

Abdulatif Azmi Abdulatif Abdulhadi

Maaden

Mosaed Al-Ohali

April 25

Personal reasons

Abdulaziz Al Harbi

Zoujaj

Yousef Al-Tuwaijri

May 26

Personal reasons

Bassam M. AlBassam

Sipchem

Saleh Bahamdan

Jan. 1

Retirement

Abdullah Alsaadoon

Umm Al-Qura Cement

Fawaz Almutairi

Sept. 1

Personal reasons

Majid Gharbawi

Yanbu Cement

Ahmed bin Abdo Zugail

March 27

Personal reasons

Ali Bin Abdullah Al-Ayed

Capital Goods

Amiantit

Solaiman Altwaijri

Oct. 31

Personal reasons

Osama Al-Onaize

MESC

Fawaz bin Mubarak Al-Muqbil

Dec. 2

Personal reasons and unwilling to renew contract

--

Commercial and Professional Services

Maharah

Abdulkarim Alnujaidi

July 14

To devote his efforts to his private business

Abdulaziz Alkathiry

Consumer Durables

Naseej

Marc Henri Verleyen

April 1

Personal reasons

Yasir Osama Al-Sebaei

Yasir Osama Al-Sebaei

Nov. 18

--

Monther Mohammed Abdallah Al Sorayai

Consumer Services

Seera

Abdullah bin Nasser Al-Dawood

April 5

Assigned additional supervisory and leading tasks

Majed Al Nefaie

Herfy

Ahmed Bin Hamad Al-Said

April 25

Lack of agreement in points of view

Khalid Al Saeed

Leejam

Justin Musgrove

June 10

Personal reasons

Anthony Elliott

Ataa Educational

Ibrahim Al-Turki

Dec. 13

Personal reasons

Fahad Al-Tuwaijri

Food Retailing

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

Mohsen Husain

Dec. 17

Family reasons

Muwaffaq Mansour Jamal

Thimar

Sari Al-Mayouf

Oct. 15

Personal reasons

--

Food Production

Savola

Anees Bin Ahmed Moumina

Jan. 1

Personal reasons

Waleed Fatani

Wafrah

Migid Ibrahim Ramthan AI Otaibi

Dec. 10

Personal reasons

-

SADAFCO

Waltherus Matthij

Oct. 31

Retirement

Patrick Stillhart

Banks

SABB

David Dew

May 23

Retirement

Tony Cripps

ANB

Robert Maroun Eid

Feb. 2

Personal reasons

Obaid Alrasheed

Alinma Bank

Abdulmohsen Abdulaziz Al-Fares

Jan. 3

Personal reasons

Abdullah Alkhalifa

Insurance

Salama

Omar Al Ajlani

Nov. 30

Personal reasons

Bader Alanzi

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

ACIG

Hesham Mohammad Al Shareef

Aug. 31

Personal reasons

Mohammed Bin Abdullah Al Qadi

SAICO

Hassan Abdullah Al-Somali

Dec. 31

Retirement

--

Gulf Union Alahlia

Munir Al-Borno

June 15

Retirement

Mesheal AlShayea

Telecom

stc

Nasser Al Nasser

March 28

Personal reasons

Olayan AlWetaid

Utilities

Saudi Electricity

Fahad Al-Sudairi

June 7

Personal reasons

Khaled bin Hamad Al-Gnoon

Real Estate

ARDCO

Ali bin Abdullah Al Hassoun

Sept. 25

Unwilling to renew contract

Jihad Al-Qadi

Emaar EC

Ahmed Bin Ibrahim Linjawy

April 12

Personal reasons

Cyrill Piaia

Red Sea

Tareq M. Telmesani

May 1

Personal reasons

Khalid Fagih

Knowledge EC

Sami Abdul Aziz Al Makhdoub

Sept. 30

Personal reasons

Mohammad Al-Mubarak
 

Nomu-CEOs Resignations in 2021

Company

CEO

Resignation date

Reasons

New CEO

Public Utilities

Natural Gas Distribution

Abdul Rahman bin Rashid Al Balawi

Dec. 14

Personal reasons

Raed Al Mubarak

Capital Goods

National Building

Mohammad Alawwad

Jan. 25

Personal reasons

Meshaal bin Abdul Rahman AlOqla

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