Saudi Advanced Industries Co. Announces the Non-Renewal of the Chief Executive Officer’s Contract and the Appointment of a New Chief Executive Officer
- 10:18:00
- 1448/02/29
- 12/08/2026
| Element List | Explanation |
|---|---|
| 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. |
| Element List | Explanation |
|---|---|
| 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. |
| Element List | Explanation |
|---|---|
| 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. |