Riyadh – Mubasher: Saudi Arabia-based United Wire Factories Company’s (Aslak) board of directors appointed Nabil Al Amir as a new CEO, effective as of 16 October to replace Abdul Karim Abdullah Al Shamekh.

Al Shamekh resigned for personal reasons, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

Aslak last reported a 1390% profit surge, recording SAR 7.3 million during the second quarter of 2018, compared SAR 499,000 in Q2-17, while profits rose to SAR 15 million in H1-18, from SAR 8.2 million during H1-17.

Aslak’s stock inched up 0.77% to close Wednesday's trading session at SAR 15.62.