Riyadh – Mubasher: The board members of Riyad Bank accepted, on 12 December 2023, the resignation of Tareq Abdulrahman Al Sadhan from his position as the CEO of the Saudi lender.
Al Sadhan’s resignation will be effective on 31 January 2024, according to a bourse filing.
During their meeting, the board members also decided to appoint Nadir Sami Al Koraya in the CEO position to succeed Al Sadhan starting from 1 February next year. This resolution is yet subject to obtaining the non-objection from the Saudi Central Bank (SAMA).
Al Koraya holds a Master's degree in Business from the University of California and has over 30 years of experience in the banking sector. He is currently the Chief Treasury and Investment Officer at Riyad Bank.
It is worth noting that during the first nine months (9M) of 2023, the Saudi listed lender generated net profits worth SAR 6.09 billion, while its assets totalled SAR 377.01 billion at the end of September this year.
