Riyadh – Mubasher: Bawan Company has appointed Mohammad bin Ahmad Al Balawi as the new CEO of the company.

Al Balawi will officially assume his position on 1 July this year, according to a bourse disclosure on Tuesday.

The new CEO holds a bachelor’s degree in Economics and Administrative Sciences, with more than 20-year experience in business development and financial management.

Al Balawi first joined the listed firm Bawan in 2011 as the CFO of the group.

During the first quarter (Q1) of 2022, Bawan registered SAR 50.34 million in net profit after Zakat and tax, an annual surge of 20.79% from SAR 41.68 million.