Riyadh – Mubasher: The board of Almasane Alkobra Mining Company (AMAK) approved the consensual termination of the contractual relationship with CEO Geoffrey Macdonald Day.

The decision, reached during a board meeting held on 10 August 2026, will take effect on 13 August.

In a concurrent move, the board appointed Savas Sahin as the company’s Managing Director, effective 13 August.

Sahin, who has served as a board member since 9 January 2022, will see his membership status transition to an executive role.

The Managing Director brings over 28 years of experience in the mining industry across Turkey, Australia, and Saudi Arabia.

He previously served as the CEO of AMAK from 2017 until December 2021, during which time he oversaw the restructuring of the Al Masane mine and the development of the Guyan and Moyeath projects.

The new official also played a key role in preparing the company for its initial public offering in early 2022. Sahin holds a bachelor's degree in mining engineering and an executive MBA.

In the second quarter (Q2) of 2026, AMAK posted 52.55% year-on-year (YoY) lower net profits at SAR 34.66 million, compared to SAR 73.05 million.