Saudi Advanced Industries Appoints Al-Fares as New CEO

SAIC

SAIC

2120.SA

0.00

On August 12, 2026, Saudi Advanced Industries Co. announced that its Board of Directors approved, on August 11, 2026, the non-renewal of CEO Khalid Saeed Abukhadhra's contract upon its expiry, effective October 12, 2026, due to personal circumstances. Concurrently, the Board appointed Fares Abdulrahman Al-Fares as the new Chief Executive Officer, with his tenure commencing on October 13, 2026. Mr. Al-Fares brings over 20 years of executive experience in banking, investment, finance, and asset management, having most recently served as Chief Investment Officer at Saudi Advanced Industries Company, and previously held senior roles at Yaqeen Capital and Al Rajhi Capital.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97589&anCat=1&cs=2120&locale=ar

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.