Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business, Management & Marketing

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

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.

    [adinserter block="5"]

    Most Read

    UAE’s working mothers get extended maternity leave

    The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

    Getting vaccinated is ‘the most patriotic thing’ to do

    The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

    Saudi Arabia to generate $150 billion in investments from its new transport policy

    The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

    GCC healthcare: Transforming the region and impacting the world

    PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

    New-Age Growth Comes Home to the GCC

    The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

    [adinserter block="4"]