إعلان شركة البحر الأحمر العالمية عن استقالة الرئيس التنفيذي للشركة وتعيين رئيس تنفيذي جديد

Red Sea International Company Announces the Resignation of the Chief Executive Officer of the Company’s and the Appointment of a New Chief Executive Officer 4230 RED SEA -0.10 % 1448/03/17     30/08/2026 08:22:33 Introduction Red Sea International Company (the “Company”) announces the Board of Directors’ resolution dated 28/08/2026G, approving the resignation of Eng. Hani bin Othman Baothman from his position as Chief Executive Officer of the Group, with his resignation from the position of Group Chief Executive Officer taking effect as of 28/08/2026G, following the completion of the agreed three-month notice period. Eng. Hani bin Othman Baothman will continue to serve as the Company’s Managing Director, drawing on his extensive experience in leading the Company’s business and contributing to the oversight of its strategic priorities, projects, and execution initiatives, including the Company’s capital increase plan. The notice period will also be utilized to complete the orderly transition of responsibilities and handover of duties, supporting a smooth transition and the continued implementation of the Company’s approved business plans and initiatives. This decision reflects the Company’s approach to evolving its leadership structure in line with the requirements of the next phase, strengthening its readiness to execute its plans and achieve its objectives, while leveraging the continuity of leadership expertise and its role in supporting the Company’s continued progress and enhancing the interests of its shareholders. The Board of Directors extends its sincere thanks and appreciation to Mr. Hani bin Othman Baothman for his efforts and contributions during his tenure as Chief Executive Officer and wishes him continued success in his ongoing contributions and role within the Company as Managing Director. The Board of Directors also extends its sincere congratulations and a warm welcome to Eng. Ghassan bin Nabil bin Abdulilah Nassief on his appointment as Chief Executive Officer of the Group. The Board wishes him every success in leading the company through its next phase, achieving its strategic objectives, advancing its sustainable growth agenda, and creating long-term value for shareholders and other stakeholders. Name of the Resigned Person Eng. Hani bin Othman Baothman Resignation Acceptance Date 2026-08-28 Corresponding to 1448-03-15 Resignation Effective Date 2026-08-28 Corresponding to 1448-03-15 Reasons for Resignation Completion of the company's restructuring program, including the rationalization of unprofitable international operations, the renewed focus on its core oil and gas business in the Kingdom of Saudi Arabia through the company's Jubail facility, and the oversight of the company's capital increase process. Appointment Type Appointment Name of the Appointed Person Eng. Ghassan bin Nabil bin Abdulilah Nassief Date of Board Resolution 2026-08-28 Corresponding to 1448-03-15 Date Work Commencement 2026-08-28 Corresponding to 1448-03-15 Brief Resume Eng. Ghassan bin Nabil Nassief possesses more than 25 years of professional and executive experience spanning corporate banking and investment, financial advisory, restructuring and business transformation, and business development. Throughout his career, he has held several senior leadership and executive positions, most notably as Managing Director of Teneo Saudi Arabia, and Business Development Manager at Swicorp. He also served as Head of International Corporate Banking at Emirates Islamic Bank, in addition to holding several leadership roles within the banking sector at Saudi Hollandi Bank, National Commercial Bank (NCB), Bank Albilad, SABB, and Banque Saudi Fransi. Eng. Naseef also founded GNN Financial Advisory, a firm specializing in financial advisory, restructuring, debt advisory, and mergers and acquisitions (M&A) services. He holds a bachelor’s degree in electrical engineering from King Fahd University of Petroleum & Minerals (KFUPM), along with several professional certifications and specialized training programs in finance, leadership, and restructuring. 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