Shams Replaces CEO, Appoints Al-Otaibi Effective Immediately

TECO

TECO

4170.SA

0.00

Tourism Enterprise Company (Shams) announced on July 19, 2026 that its Board of Directors approved, via a decision dated July 17, 2026, the mutual termination of the contractual relationship with its CEO, Eng. Abdullah bin Omar Al-Suwailem, effective July 17, 2026. Concurrently, the Board appointed Mr. Majed bin Nawwar Al-Otaibi as the new CEO, also effective July 17, 2026. Mr. Al-Otaibi brings over twenty-five years of experience in investment and asset management, having held multiple leadership positions in the banking and investment sectors, and holds a master's degree in economics from Ohio University, USA.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96847&anCat=1&cs=4170&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.

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