Riyadh – Mubasher: The board of Fawaz Abdulaziz Alhokair Company has announced the resignation of Marwan Aziz Moukarzel as the company’s CEO, starting from 30 April 2022.

Moukarzel resigned from his post as he was appointed the CEO-International with Saudi FAS Holding Company, Alhokair’s major shareholder, according to a bourse filing on Sunday.

The Saudi listed company appointed Mohamad Rafic Mourad, the current Chairman of the company’s executive committee, as the interim CEO effective from 1 May.

During the nine-month (9M) fiscal year (FY) 2021/2022, Alhokair recorded net profits after Zakat and tax worth SAR 82.65 million, versus losses of SAR 761.91 million in 9M- FY20/21.