Riyadh – Mubasher: Saudi Electricity Company (SEC) has announced the appointment of Fahad bin Hussein Al-Sudairi as CEO.

The company’s board of directors decided on the appointment on Tuesday 12 November, with the decision being effective starting from the same date, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

Al-Sudairi was serving as the company's Chief Financial Officer (CFO) and Executive Vice President, as well as acting CEO since the resignation of Ziad bin Mohammed Al-Shiha last year.

SEC recently reported profits of SAR 2.68 million in net profits for the third quarter (Q3) of 2019, recording a 45.6% year-on-year (YoY) decrease.