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Business, Management & Marketing

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

CEO of Saudi Electricity Company quits from top post

By Hilal Mir
June 7, 2021 6:00 am

    • Al Sudairi cited personal reasons for the decision

    • The company appoints vice president as its new head until further notice

    Fahad bin Hussein Al Sudairi, Chief Executive Officer (CEO) of Saudi Electricity Company (SEC), has resigned from his job citing personal reasons. He will be replaced by Khaled bin Hamad Al Gnoon, currently the company’s executive vice president, distribution and customer services, until further notice, SEC said in a statement quoted by Zawya.

    Sudairi was appointed as CEO in November 2019 and resigned for private reasons, according to the statement.  SEC’s most recent financial reports show a profit of SAR 1.69 billion ($451 million) in Q1 2021, compared with a loss of SAR 2.44 billion in the same period in 2020.

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