In connection with the Board of Directors meeting held on Tuesday December 17, 2013, Kingdom Holding Company announced the retirement of Mr. Shadi Sanbar from his position as Chief Financial Officer effective December 31, 2013. In addition, Mr. Sanbar will serve as Senior Financial Advisor to HRH Prince Alwaleed Bin Talal Bin AbdulAziz AlSaud, Chairman of KHC and will remain as a Non-Executive member of the Board of Directors of KHC and board member to other KHC associates namely Four Seasons Hotels and Resorts and Fairmont Hotels and Resorts Inc. Holding Limited.
KHC represented by HRH the Chairman and members of the Board of Directors expressed their thanks to Mr. Shadi Sanbar for his valuable and effective contribution during his tenure at KHC and looked forward to his continuing involvement as a senior financial advisor and board member. In response, Mr. Sanbar expressed his deepest thanks, appreciation and gratitude for Prince Alwaleed’s continued support that led to great business achievements since KHC’s IPO in 2007. Mr. Sanbar concluded by saying, “My association with the Prince and KHC has been the challenge of a lifetime and has been most rewarding ever.”
In this connection, KHC is announcing the appointment of Mr. Mohammed Fahmy as the Chief Financial Officer effective January 1, 2014 and a member of the investment committee. Mr. Fahmy has served as the Company’s Deputy CFO since March of this year. Mr. Fahmy is highly accomplished with 18 years of progressive track record of achievements. Mr. Fahmy worked as a corporate banker then an investment banker for a combined period of 13 years within a number of regional and international banks. He also worked as a CFO for a combined period of 5years before joining KHC.
In addition, KHC is also announcing the appointment of Dr. Adel Alsayed the Executive Director for International and Private Equity as a KHC board member effective January 15th, 2014. Dr. Adel Al Sayed has more than 25 years’ experience in financial advisory and private equity investments. His last position was the CEO of an investment Bahrain-listed Company.
Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. KHC is one of the world’s most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally. KHC’s portfolio has its major interests in investment categories ranging from luxury hotels and real estate to media and publishing, entertainment, finance and investment services, social media and technology, consumer and retail, petrochemicals, education, private equities, health care, aviation, even agriculture. KHC is among the world’s largest and most diverse investors, with regional and international holdings in many key industries. KHC is recognized as one of the largest foreign investors in the United States.