Riyadh – Mubasher: Fahd bin Muhammad Al Fawaz, the CEO of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group), resigned from his position due to personal reasons.
The company’s board accepted Al Fawaz’s resignation on 3 January 2023, yet it will be effective on 28 February this year, according to a bourse filing.
Meanwhile, Sami bin Abdul Mohsen Al Hokair, who is the Managing Director of Alhokair Group, was named as the firm's Acting CEO starting from 1 March 2023. Al Hokair will perform Al Fawaz’s duties until the appointment of a new CEO.
The new official held a bachelor's degree in Administrative Sciences from King Saud University (KSU) in 1990. He took over many leadership roles for over 30 years, as he enjoys professional experience in developing business strategies for key companies.
Last November, Alhokair Group announced that its accumulated losses hit 0% of the capital as of 6 October 2022.
