تعلن الشركة السعودية للصناعات المتطورة عن عدم تجديد عقد الرئيس التنفيذي وتعيين رئيس تنفيذي جديد

Saudi Advanced Industries Co. Announces the Non-Renewal of the Chief Executive Officer’s Contract and the Appointment of a New Chief Executive Officer 2120 SAIC 0.55 % 1448/02/29     12/08/2026 08:07:01 Introduction The Company announces that, on 11 August 2026, the Board of Directors approved the request of the Chief Executive Officer, Mr. Khalid Abukhadhra, not to renew his contract upon its expiry, based on his request. The Board of Directors extends its sincere thanks and appreciation to Mr. Khalid Abu Khadra for his efforts and contributions during his tenure as Chief Executive Officer and wishes him continued success in his future endeavors. Name of the Resigned Person Khalid Saeed Abukhadhra Resignation Acceptance Date 2026-08-11 Corresponding to 1448-02-28 Resignation Effective Date 2026-10-12 Corresponding to 1448-05-01 Reasons for Resignation Due to personal circumstances. Appointment Type Appointment Name of the Appointed Person Fares Abdulrahman Al-Fares Date of Board Resolution 2026-08-11 Corresponding to 1448-02-28 Date Work Commencement 2026-10-13 Corresponding to 1448-05-02 Brief Resume Mr. Fares Al-Fares has more than 20 years of extensive executive and leadership experience in the banking, investment, finance, and asset management sectors. Throughout his career, he has held several senior leadership positions, most recently serving as Chief Investment Officer at the Saudi Advanced Industries Company. He also previously served as Head of Asset Management at Yaqeen Capital and Head of Asset Management at Al Rajhi Capital. Mr. Fares holds a Bachelor’s degree in Accounting from Prince Sultan University. The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate. Share