Red Sea names Ghassan Nassif as new CEO

Red Sea International Company announced the appointment of Ghassan Nassef as CEO, succeeding Hani bin Othman Baasarman, who resigned from the position but will remain a nominated member and continue to oversee some tasks such as the capital increase plan. The decision to change leadership follows the completion of Baasarman’s restructuring efforts, which included reducing unprofitable activities in foreign markets and focusing on the oil and gas sector within the Kingdom. Nassef brings over 25 years of experience in banking, investment, and restructuring, and has held various leadership positions. He holds a bachelor’s degree in electrical engineering and professional certifications in finance and leadership. The current focus is on ensuring business continuity during the transition period to guarantee the execution of the company’s strategic plans.

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