Mutawara Sets CEO Departure, Appoints Fares Al-Fares
The Saudi Advanced Industries Company announced that it will not renew the contract of CEO Khaled Saeed Abu Khadra, based on his personal decision, and has appointed Fares Abdulrahman Al-Fares as the new CEO starting October 13, 2026. Al-Fares brings over 20 years of experience in banking and investment sectors and previously served as the company's Chief Investment Officer, which strengthens his understanding of the business and its investment rights. These changes are part of the company's management updates and leadership transition at the board of directors.
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