Majed Al-Otaibi Appointed CEO of Shams, Nasser Al-Barak as Chairman of the Board
Shams logo. Tourism Projects Company (Shams) announced that the Board of Directors elected by the ordinary general assembly for the new term starting July 17, 2026, for four Gregorian years ending July 16, 2030, has decided to approve the termination of the contractual relationship by mutual consent with the company's CEO, Engineer Abdullah bin Omar Al-Suwailem, effective as of the date of the decision. The company said in a statement on Tadawul that the Board decided to appoint Majed bin Nawwar Al-Otaibi as CEO of the company as of Friday. It added that Majed Al-Otaibi has over 25 years of experience in investment and asset management, during which he held many leadership positions in the banking and investment companies sector, leading innovative investment strategies while applying the highest standards of governance and risk management, and holds a master's degree in economics from Ohio University, USA. In a separate statement, the company announced that the Board decided to appoint Nasser bin Khalaf Al-Barak as Chairman of the Board, and Majed bin Nawwar Al-Otaibi as Vice Chairman and Managing Director.
Majed Al-Otaibi Appointed CEO of Shams, Nasser Al-Barak as Chairman of the Board
Shams logo
Tourism Projects Company (Shams) announced that the Board of Directors elected by the ordinary general assembly for the new term starting July 17, 2026, for four Gregorian years ending July 16, 2030, has decided to approve the termination of the contractual relationship by mutual consent with the company's CEO, Engineer Abdullah bin Omar Al-Suwailem, effective as of the date of the decision. The company said in a statement on Tadawul that the Board decided to appoint Majed bin Nawwar Al-Otaibi as CEO of the company as of Friday. It added that Majed Al-Otaibi has over 25 years of experience in investment and asset management, during which he held many leadership positions in the banking and investment companies sector, leading innovative investment strategies while applying the highest standards of governance and risk management, and holds a master's degree in economics from Ohio University, USA. In a separate statement, the company announced that the Board decided to appoint Nasser bin Khalaf Al-Barak as Chairman of the Board, and Majed bin Nawwar Al-Otaibi as Vice Chairman and Managing Director.
The company said that the Nominations and Remuneration Committee was formed as follows:
Khalid bin Mohammed Al-Qazlan - Chairman. Nasser bin Khalaf Al-Barak - Member. Sarah bint Fahd Al-Subaie - Member. Mohammed bin Saleh Al-Mazeed - External Member.
The Development and Investment Committee was also formed as follows:
Majed bin Nawwar Al-Otaibi - Chairman. Nasser bin Khalaf Al-Barak - Member. Fares bin Abdulrahman Al-Fares - Member. It added that the Secretary of the Board was appointed, in addition to appointing the company's representatives for all purposes related to the application of regulations and rules at the Capital Market Authority, the Saudi Stock Exchange (Tadawul), and the Securities Depository Center Company (Edaa). In a separate statement, the Audit Committee was formed by a decision of the Board of Directors as follows:
Fawaz bin Abdulstar Al-Alami - Chairman. Saif bin Fahid Al-Harbi - Member. Abdullah bin Lafi Al-Otaibi - External Member.
{{displayname}}
{{profession}}
{{followercount}}
{{aboutme}}
Original source: Argaam
Comments (0)
Be the first to comment.