Saco Announces Non-Renewal of CEO's Contract and Appoints Sakhr Jamjoom as Managing Director of the Company

Logo of the Saudi Company for Hardware and Tools - Saco

The Saudi Company for Hardware and Tools (Saco) announced the Board of Directors' decision in its meeting held yesterday to approve the non-renewal of the CEO Abdul Salam Badir's contract, effective from the end of his contract term on October 31, 2026.

The company said in a statement on Tadawul that the Board decided to appoint Board member Eng. Sakhr bin Asaad Jamjoom as Managing Director of the company, effective from today until the end of the current board term on July 19, 2029. It mentioned that Eng. Sakhr Jamjoom holds a Master's in Engineering Management and a Bachelor's in Industrial Engineering from Northeastern University, in addition to a Corporate Governance certificate from Wharton School. He has over 32 years of professional experience in global companies and multiple sectors including consumer goods, oils, manufacturing, and logistics. He also held executive leadership positions and board memberships in leading companies, and served as Managing Director of Halwani Brothers during the period from 2024 to 2025. According to Argaam data, the company's Board of Directors had appointed Abdul Salam Badir as CEO effective from January 1, 2023.

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