Al Rashid Industrial Co. Announces Resignation and Appointment of a CEO
| Element List | Explanation |
|---|---|
| Introduction | AL Rashid Industrial Company announces the Board of Directors’ decision dated 09/03/1447H corresponding to 01/09/2025G approving the resignation of the Company’s Chief Executive Officer, Mr. Mohammed bin Abdulaziz Al-Rashid Al-Humaid, effective as of 10/03/1447H corresponding to 02/09/2025G, due to other organizational reasons. He will continue to serve as Managing Director and a member of the Board of Directors.
The Board of Directors extends its sincere appreciation and gratitude to Mr. Mohammed bin Abdulaziz Al-Rashid Al-Humaid for his efforts and achievements during his tenure, wishing him continued success. Furthermore, the Board of Directors, in its meeting held on 09/03/1447H corresponding to 01/09/2025G, and based on the recommendation of the Nomination and Remuneration Committee, resolved to appoint Eng. Badr bin Eid Al-Harbi as Chief Executive Officer of the Company, effective as of 10/03/1447H corresponding to 02/09/2025G. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Mr. Mohammed bin Abdulaziz Al-Rashed Al-Humaid |
| Resignation Acceptance Date | 2025-09-01 Corresponding to 1447-03-09 |
| Resignation Effective Date | 2025-09-02 Corresponding to 1447-03-10 |
| Reasons for Resignation | Other organizational reasons |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Engineer/ Badr bin Eid Al-Harbi |
| Date of Board Resolution | 2025-09-01 Corresponding to 1447-03-09 |
| Date Work Commencement | 2025-09-02 Corresponding to 1447-03-10 |
| Brief Resume | Eng. Badr Al-Harbi brings over 25 years of executive and strategic experience across the industrial, real estate development, investment, shared services, and corporate transformation sectors. He has held several senior leadership positions in both the public and private sectors, including Deputy CEO of United Wire Factories Company and CEO of the Shared Services Sector at Dar Al Arkan Real Estate Development Company. He has also chaired numerous steering and supervisory committees and led major corporate and digital transformation initiatives as well as comprehensive restructuring programs.
Eng. Badr Al-Harbi holds a bachelor’s degree in Mechanical Engineering with First Class Honors, in addition to completing several advanced executive programs in leadership, strategy, digital transformation, and sustainability. |
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