Riyadh – Mubasher: Saudi Electricity Company (SEC) has named Najem Abduallah Alzaid as the Chairman of the board for four years.
Raed Naser Alrayes was announced as the Deputy Chairman, according to a bourse filing.
The two officials assumed their roles for a new session, which commenced on 21 January 2024 and will end on 20 January 2028.
It is worth highlighting that the board members of SEC greenlighted the two appointments during their meeting that was held on 23 January.
In the first nine months (9M) of 2023, the Saudi firm recorded 22.80% year-on-year (YoY) lower net profits after Zakat and tax at SAR 10.34 billion, compared to SAR 13.39 billion.
Revenues grew by 2.18% to SAR 56.89 billion in 9M-23 from SAR 55.68 billion in 9M-22, while the earnings per share (EPS) dropped to SAR 1.11 from SAR 1.84.
