Published: Jul 22, 2014
Source: Tadawul

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The Savola group announces the resignation of its CEO and Managing Director (MD) and the appointment of a new CEO and MD

The Savola Group announces the decision of its Board of Directors made in its meeting held on Tuesday, July 22, 2014, corresponding to 25 Ramadan 1435 (As per Um AlQurah Calendar), accepted the resignation of Dr. Abdulraouf Mohammed Mannaa from his position as a CEO and MD of the Savola Group submitted on 19 July 2014, due to personal reasons. The Board also approved, during the same session, the appointment of its current Board Member His Excellency Eng. Abdullah Mohammed Noor Rehaimi, as the CEO and Managing Director for the Group in place of Dr. Mannaa effectively from 1 January 2015. Meanwhile, Dr. Abdulraouf Mannaa will continue his role and responsibilities as CEO and MD of the Group until the end of the current year ending 31 December 2014.

In this connection, the Board of Directors extended its sincere thanks and appreciation to Dr. Abdulraouf Mannaa for his tremendous and tireless efforts and the great achievements he made during his tenure as CEO and MD of the Group since the beginning of July 2010, during which the Group has made, with the blessing of Almighty Allah, an unprecedented growth in the performance and completed numerous important strategic deals and projects for the Group and a number of other considerable achievements, despite the difficulties and challenges that surrounding a number of countries in the region, the Board also wishes - his successor Eng. Abdullah Rehaimi - all the success in his new role.

It is worth mentioning that Eng. Abdullah Rehaimi has been assuming the Board Membership of the Savola Group since September 2010 till date, he also assuming the membership of number of subsidiaries of the Savola Group, including the Board of Directors of the Savola Foods Sector and Retail Sector, besides that he is currently assuming the role of the Chairman of the Board of Savola Plastics Sector as well as the Groups Investment Committee.

Previously, he held a number of top executives and leadership positions in a number of governmental and private institutions, notably he held the positions of President of the General Authority of Civil Aviation and Deputy of General Director of Saudi Industrial Development Fund (SIDF), besides that he is currently holding a number of Board memberships in some Saudi Banks and Companies. 

Eng. Rehaimi holds a Bachelor Degree in Mechanical Engineering from King Fahd University of Petroleum and Minerals in 1975, he also joined the special Financial Credit Program at the Chase Manhattan Bank, USA.

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