Riyadh – Mubasher: The board of AFG International Company (Cenomi Retail) confirmed on 22 June that it had accepted the resignation of Salim Fakhouri.
According to the regulatory filing, Fakhouri stepped down due to personal reasons, with his resignation set to take effect on 31 October 2026, coinciding with the conclusion of his employment contract. The Board expressed its gratitude to Fakhouri for his contributions and leadership during his tenure with the retail firm.
The incoming CEO, Samir Jain, brings more than two decades of leadership experience across the retail, consumer goods, and corporate strategy sectors. Jain most recently served as the CEO of New Business and Home Centre in the Middle East for the Landmark Group.
His professional background includes extensive consulting and leadership roles at prestigious international firms, including McKinsey & Company, A.T. Kearney, and Ernst & Young (EY).
This leadership change arrives at a critical juncture for AFG International. The company is currently navigating a comprehensive transformation agenda aimed at enhancing operational efficiency, accelerating digital integration, and fostering customer-centric innovation.
These efforts are being supported by the strategic involvement of the Al Futtaim Group, which secured a near-majority stake in the company in 2025.
Under the new leadership, the company intends to focus on long-term value creation and the expansion of its business portfolio.
AFG International remains the only listed franchise retail specialist of its kind in the Middle East, representing a diverse portfolio of 41 international brands.
Its operations span across various segments, including women’s fashion, children’s wear, department stores, footwear, accessories, and cosmetics, as well as a selection of international food and beverage outlets.
The scale of the company’s operations provides a significant platform for the incoming executive. AFG International currently manages 730 stores located across 134 shopping malls in eight countries.
The company’s retail platform encompasses a total gross leasable area (GLA) of approximately 304,000 square meters and employs a workforce of over 5,000 people.
