Riyadh – Mubasher: Saudi Ceramics Company announced Majid bin Abdullah Al Issa’s resignation as its CEO, effective from 17 September 2023, according to a bourse disclosure.
The board members accepted Al Issa’s resignation, on 4 September, and appointed Azzam bin Saud Al Mudaihim as the new CEO.
Al Mudaihim has a diverse experience of over 25 years in the business sector, where he held several leadership positions in a number of companies. He served as the CEO of Abu Nayyan Trading Company and the CEO of Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group), among other key roles.
The new CEO holds a bachelor's degree in Mechanical Engineering from King Saud University, in addition to a number of specialised certifications.
In the first half (H1) of 2023, the company generated SAR 48 million in net profit after Zakat and tax, an annual plunge of 46.22% from SAR 89.26 million.
The revenues dropped by 15.38% to SAR 621.93 million in H1-23 from SAR 734.98 million in H1-22, while the earnings per share (EPS) plummeted to SAR 0.60 from SAR 1.12.
