Riyadh – Mubasher: Saudi Ceramic Company announced that its board of directors has approved the resignation of Abdulkareem bin Ibrahim Al Nafea as a managing director while retaining his role of chairman and member of the executive committee.

The resignation is due to personal reasons, according to a company statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Moreover, the board has appointed Majed bin Abdullah Al Eissa as CEO, as of 1 June 2020.

It is worth noting that the company turned profitable during the first quarter (Q1) of 2020, reporting SAR 10.64 million in net profit after zakat and tax, versus losses of SAR 25.05 million in Q1-19.