Further to the Savola Group (The Group) previous announcement dated 14/11/2017, regarding the resignation of its CEO, the Group would like to announce its Board of Directors decision dated 30/1/2018 to appoint Eng. Anees Ahmed Moumina in the position of the CEO of the Group, based on the recommendation of the Remuneration and Nomination Committee.


Eng. Anees Moumina will start officially his role as the CEO of the Group effective 1/4/2018.



The Board also decided to appoint H.E Eng. Abdullah Mohammad Noor Rehaimi, (current member of the Savola Group Board of Directors), to serve as an acting CEO for the period from 8/2/2018 until 31/3/2018, as the resignation of the current CEO will take effect from 8/2/2018 as announced on Tadawul website on 14/11/2017. Eng. Rehaimi holds a Bachelor of Mechanical Engineering, King Fahad University of Petroleum and Minerals Sciences in Dhahran, Saudi Arabia (1975). He was President
of the General Authority of Civil Aviation until March, 2010. He also assumed the role of MD & CEO of the Savola Group about two years ago.

It's worth mentioning that Eng. Anees Moumina holds a Master of Science in Engineering Administration with honors and a Bachelor of Science in Civil Engineering with honors, both from George Washington University, USA. In addition, he has over 25 years of experience in the private sector and the financial services industry, as he was previously the CEO of SEDCO Holding Group, and worked with the Samba Financial Group where he advanced to roles including General Manager and Senior Credit Officer. Additionally, he worked with Proctor & Gamble Co. His career has given him experience across a variety of business sectors including: retail, education, healthcare, hospitality, real estate development, manufacturing, transportation, and financial investments. Currently, he serves on a number of companies financial Institutions boards. Furthermore, he has completed a number of extended executive programs including the Global Leadership Program at Harvard University, the Senior Executive Management Program at Columbia University, and the Global CEO Program at Wharton University.

In this respect, the Board welcome Eng. Anees Moumina and wish him all the success in his new capacity as a CEO of the Savola Group, and once again thanked Eng. Rayan Fayez for his contribution towards the Group's accomplishments as Group CEO for his office term.