Riyadh – Mubasher: Mohammad Abdulaziz Al Fadhli will not renew his contract as the CEO of Wafrah for Industry and Development Company, according to a bourse disclosure.

Al Fadhli submitted his resignation on 21 March 2024, yet it will be effective on 1 April.

Meanwhile, the board named Riyan Mohammed Al Mansour as the Acting CEO. He has more than 20 years of experience in the industrial and investment sectors.

Al Mansour holds a bachelor's degree in electrical engineering from King Fahd University of Petroleum and Minerals in 2003, as well as a master's degree in business administration from Qassim University.

Last January, Wafrah appointed Saad Solaib Mutlaq Alotaibi and Mohamed Yagoub Yousuf Almukhadeb as the board’s Chairman and Deputy Chairman, respectively.