Sulaiman A. Al Muhaidib
Chairman
Saudi Vision 2030
Savola is committed to realizing the goals of Saudi Vision 2030, and continues to engage with national entities through initiatives that seek to advance progress toward the Kingdom’s socio-economic development objectives.
Maintaining Strategic Focus and Transforming for the Future
Savola Group has maintained focus on its strategy throughout 2021, building the foundations necessary for its transformation and investing strategically to achieve future growth plans, despite persistent headwinds as a result of the continued pandemic environment.
The year saw Savola Group exhibit considerable resilience to achieve a solid performance across the majority of our operating companies and countries where we operate, by adapting to changing market and demand dynamics with agility and purpose.
We are driven by our core corporate values, which are evident across all facets of the Group’s business and serve as the foundations of our ongoing transformation, progress, and success. By applying the key pillars of this approach – Persistence, Righteousness, Integrity and Fulfilment – on a daily basis, Savola continues to create ‘Value based on Values’, including through efforts to establish the Group as the socially and environmentally responsible employer of choice in the Saudi food and retail industry.
Nurturing our People
Savola Group is dedicated to providing a safe, secure and rewarding working environment in which our people can grow and succeed. We are proud of the diversity of our workforce, and seek to create an equitable balance of male, female and people with disabilities among our staff. We maintained our exceptional employee retention rate at 92.59% of our total workforce during 2021.
A testament to our drive toward inclusivity, Savola joined the Valuable 500 global initiative in 2021, which aims to enhance the inclusion of people with disabilities through the business sector as a major driver of social change.
We also take pride in our leading position in the sector with regard to Saudization, embodied by the Platinum Nitaqat rating maintained at our HQ. Saudi nationals now represent over 73% of our workforce, demonstrating the depths of our commitment to the objectives of Saudi Vision of 2030.
In 2021 we delivered a range of initiatives to support our staff and provide a uniquely rewarding culture, including our Long-Term Incentive Program (LTIP) for our senior management team, employee recognition initiatives, and “Tawer” Employee Engagement Program.
Robust Environmental, Social and Corporate Governance Structures
In order to consolidate Group social responsibility and government relations activities under a common vision and purpose in 2021, Savola established 3 new management committees to promote knowledge exchange in vital areas – the Government Relations Committee, the Corporate Social Responsibility (CSR) Committee and the Sustainability and Environment Committee.
Across these new committees, Savola aims to establish and maintain effective relationships with key ministries and other relevant government bodies; align Group CSR efforts through multiple programs and activities; and implement the Group’s environmental initiatives, whilst also providing oversight for all activities in the areas of energy, water, waste management, recycling and gas emissions.
Our commitment to sustainability remains at the heart of the Group’s strategy and is embodied by the work of the Savola World Foundation, our dedicated CSR vehicle tasked with promoting business assistance, youth skills development and environmental stewardship in the Kingdom.
Meanwhile, our robust Corporate Governance structures serve to propel continued success in meeting our commitments with respect to transparency and accountability, while also fulfilling our promises to our shareholders, employees and other stakeholders across our operations and geographic footprint. As a culmination of these efforts, Savola was rated among the top 10 companies in the Kingdom in the Corporate Governance Index (CGI) for the third consecutive year by the Corporate Governance Center of Alfaisal University.
Supporting the Kingdom’s Vision 2030
Savola is committed to realizing the goals of Saudi Vision 2030, and continues to engage with national entities through initiatives that seek to advance progress toward the Kingdom’s socio-economic development objectives.
Showcasing our commitments to national economic objectives, our brands such as Panda, Afia, Alosra, and Alarabi, remain distinguished ‘Made in KSA’ brands with regional aspirations, reflecting the key goals of Saudi Vision 2030.
In 2021, the Group engaged with the “Forsa” business assistance program, an initiative of the Human Resources Development Fund that seeks to connect SMEs with procurement opportunities in major entities, thereby accelerating their contribution to the national economy. Afia International, United Sugar Company and Al Kabeer Group have all now registered on the Forsa platform.
The Savola World Foundation liaised with the General Authority for Small and Medium Enterprises (Monsha’at) in 2021 to study proposals to support SMEs and micro-businesses in the Kingdom. The focus of the Foundation’s engagement with Monsha’at was on the means to diversify GDP by supporting local companies operating in food, retail and other relevant industries.
The Foundation also engaged with the National Transformation Program in 2021, establishing cooperative links with relevant official authorities to achieve common social and economic goals.
Acknowledgements
On behalf of the Board, I wish to thank the Saudi Government, our shareholders and stakeholders for their continued support throughout 2021, as Savola builds upon its extensive legacy to deliver ‘Value based on Values’ for our customers across the Kingdom and beyond.
I would also like to thank our skilled Executive Management team for their foresight, leadership and adaptability in navigating the challenges we have faced in recent years.
Above all, I wish to express my appreciation to our dedicated employees, whose tireless efforts continue to propel the Group toward success and growth.
As we enter 2022, we remain committed to delivering increasing value for all of our stakeholders by building on our success to achieve sustainable social, environmental and financial returns.
Waleed Khalid Fatani
Group Chief Executive Officer
An Active Capital Deployment Strategy to Invest in Our Future
As a leading strategic investment holding company in the Kingdom, Savola Group delivered solid results across most of its verticals despite a very high food commodity global pricing environment and a challenging retail landscape in Saudi Arabia.
During this year, we successfully allocated capital to accelerate our businesses’ strategic transformation, including our acquisition of Bayara Holding Company in the UAE – a testament to this philosophy.
Our efficient procurement and supply chain management ensured an improvement in the profitability of our food business, despite global freight and supply chain challenges.
Whilst the Group implemented measures to offset increases to input costs through price increases, grocery sales in the Kingdom during 2021 were significantly impacted by a decline in disposable income, due to the VAT increase, that has increased preference for value-for-money products. Consequently, the hypermarket/supermarket channel in our home market recorded a contraction of 9%, whilst the VAT-adjusted fast-moving consumer goods market declined by 4.8% across 2021.
Group Performance During 2021
Group revenues for 2021 reached SAR 24.7 billion, representing an improvement of 14% over 2020 and a 15% increase compared to pre-pandemic levels in 2019.
Revenues from our Food business rose by 46% year on year to reach SAR 12,630 million. At the same time, the food services segment reported a 22% growth in revenue compared to 2020 to reach SAR 1,314 million. The improvement in results of the Food business was on the back of a recovery in B2B volumes and higher pricing of products.
On the other hand, the Group’s Retail segment reported 10% decline in revenue, mainly due to lower basket sizes as result of lower disposable income and the impact of the high base effect of the previous year, reflecting the continuing challenges and pressure on the Saudi modern trade and retail sector.
Savola Foods Company’s (SFC) innovation pipeline remained robust, as it delivered a high product rollout rate in 2021 in the B2B space, with numerous new product launches covering multiple segments. Al Kabeer continued to provide high-quality frozen foods to customers, despite supply chain challenges.
Meanwhile, Herfy showed an exceptional speedy recovery post pandemic, which was in line with the B2B recovery mentioned earlier, despite the supply chain challenges.
Our Corporate Growth Strategy
Our robust growth strategy ensured a positive trajectory, despite unabated market disruption, as the Group continues on its transformation journey by investing towards value-added food categories and retail customer experience.
SFC saw improved demands in the B2B and hotel, restaurant and catering (HORECA) segments, as consumers gradually returned to public outlets through the year.
2021 marked a strong start to SFC’s ABCD (Anchor, Bet, Conquer, Disrupt) growth strategy. SFC continued to innovate in its core product portfolio, as part of its Anchor pillar. SFC also acquired Bayara in 2021, a leading spices, nuts and snacks business out of the UAE, to activate its Conquer pillar. This acquisition will further SFC’s strategic aim to expand into segments targeting younger generations and enabling the Group to tap into new high-growth, and high-margin segments.
Finally, as part of its Bet pillar, along with a commitment to innovation, SFC has invested into Munchbox, one of the exciting new brands focusing on healthy snacks.
Panda finalized its customer experience program (CXR), which encompassed an updated footprint strategy in 2021. A pilot program was completed in 2021 that demonstrated encouraging initial results for the future of the program as it rolls out in the coming years.
To enhance the in-store experience for customers, Panda deployed the necessary technology infrastructure to augment its operations and enrich the customer experience.
As part of Savola’s ongoing digitalization journey, we have committed to major investments in technology to establish a data-driven organization with an unrivalled understanding of consumer behavior.
During the year, SFC also accelerated its innovation agenda through the launch of a major manufacturing digital transformation project, in partnership with global leaders Deloitte and Amazon Web Services. The ambitious project is designed to establish a Smart Factory with cutting-edge technologies to drive efficiency, productivity and safety that will create significant value for our business and stakeholders.
Investing in and Caring for Our People
We continue to position the Group as the employer of choice in the food and retail industries, providing an extensive offering of career advancement opportunities, health and wellness schemes, and employee engagement activities.
Throughout 2021, we remained committed to protecting our people and customers from the ongoing threat posed by the COVID-19 pandemic, reflecting the key priority of our dynamic HR strategy to preserve health and wellbeing across the Group.
Building on our employee value proposition, Savola remains focused on providing a working environment in which our people can grow, thrive and excel, supported by opportunities for self-advancement and professional development.
Food Investments Revenue
The improvement in results of the Food business was on the back of a recovery in B2B volumes and higher pricing of products.
We continued to deliver professional development and training programs for our employees at all levels, achieving most of our learning plan for the year, and collaborated with INSEAD to develop high-potential future leaders by enrolling them in the Developing Emerging Leaders Program.
Acknowledgements
I wish to thank our communities and customers for their continued trust in Savola’s ability to consistently meet their everyday needs, and for their support for our stores and brands. We will continue to ensure this support is repaid by delivering exceptional product value and increasingly user-friendly services across our footprint.
I would also like to express my gratitude to our Chairman and Board for their perceptive guidance and support, and to our Executive team, which has demonstrated considerable aptitude in navigating the challenging market conditions in 2021.
Finally, I am indebted to our employees across the Group for their hard work and dedication to our success in uncertain and challenging times.
Wajid Usman Khan
Group Chief Financial Officer
Our focus will remain on integration of investments to leverage our strength in the Food Processing segment and optimization of our systems to enhance efficiency in our operating model.
During 2021, Savola Group demonstrated resilience in delivering a robust performance in every business segment, besides Retail, despite headwinds from inflationary pressures and macroeconomic challenges across all territories.
Net income for 2021 was SAR 222 million, a contraction from the previous year (2020: SAR 911 million). The Group’s results were impacted by a one-off non-cash impairment charge, that amounted to SAR 422 million, lower profitability in the Retail segment and a lower share of income from associates. The impairment charge was the result of a corresponding assessment against certain right-of-use assets, property and equipment and investment in an associate, in accordance with the requirements of IFRS.
Consolidated revenue for 2021 grew by 13.7% to reach SAR 24,669 million (2020: SAR 21,702 million). Top-line growth was primarily achieved on the back of higher volumes in the Food Processing and Food Services segments, which were favorably impacted by higher demand for out-of-home consumption. On the other hand, Retail revenue declined in 2021 due to the higher base established in the previous year and the full-year impact of the VAT increase in Saudi Arabia. Our performance in core markets – the GCC and Egypt– contributed 83% to consolidated revenue and 61% to consolidated net income during 2021 (2020: 88% and 45%, respectively).
Consolidated EBITDA for 2021, amounting to SAR 2,504 million, was lower when compared to the previous year (2020: SAR 2,832 million), mainly due to the decline in the Retail segment’s revenue and profitability, despite significant improvement in the Food Processing and Food Services segments.
The Group’s net debt increased by 22% to reach SAR 7,086 million as of year-end 2021 (2020: SAR 5,807 million), due to funding requirements for the acquisition of Bayara Holding Limited, UAE, and an increase in financing for working capital driven by higher commodity prices.
In line with the Group’s policy to distribute cash dividends, the Board of Directors approved cash dividends to the shareholders of SAR 0.20 per share for the year 2021.
Looking ahead, our focus will remain on integration of investments to diversify our capability in the Food Processing segment and optimization of our systems to enhance efficiency in our operating model. We look forward to embracing these opportunities by capitalizing on the collective strength of our people, guided by our values, to continue to deliver ‘Value based on Values’.
Consolidated Revenue
Top-line growth was primarily achieved on the back of higher volumes in the Food Processing and Food Services segments, which were favorably impacted by higher demand for out-of-home consumption.
Mr. Sulaiman Abdulkadir Al Muhaidib
Current positions: Chairman of the Board of Abdulkadir, Al Muhaidib & Sons., Board Member of Almarai, Rafal Real Estate, Al Muhaidib Holding, ACWA Power, Vision Invest, and many other companies
Previous positions: Chairman of the Board, Middle East Paper Co. (MEPCO), Al Oula for Real Estate Development, Thabat Construction, and Amwal Khaleej Commercial Investment
Qualifications: Degree from the Faculty of Medicine - King Saud University, KSA
Experience: Business, industrial and banking management, as well as investment management and real estate development and contracting. Sits on a number of other Boards and Committees
Mr. Bader Abdullah Al Issa
Current positions: CEO of Assila Investments, Chairman of Savola Foods Company and Board Member of several companies
Previous positions: Managing Director of Almarai, CFO of Assila Investments, CEO of Amias Holding, Investment Portfolio Manager at HSBC Saudi Arabia Limited, Financial and Marketing Analyst at SABIC Americas, and Financial Analyst at JP Morgan
Qualifications: Master’s degree in Business Administration - Rice University, USA Bachelor’s degree in Economics - University of Virginia, USA Certified Financial Analyst (CFA)
Experience: Financial and administrative fields, portfolio management, studying and analyzing of listed companies. Sits on a number of other Boards and Committees of listed and private companies
Mr. Essam Abdulkadir Al Muhaidib
Current positions: Managing Director of Al Muhaidib & Sons and Board Member of several companies
Previous positions: A number of managerial and leadership roles, and Board memberships for Al Muhaidib Group of Companies
Qualifications: Bachelor of Science degree in Statistics - King Saud University, KSA
Experience: Managing several companies in the food and contracting fields. Sits on a number of other Boards
Mr. Abdulaziz Khaled Al Ghufaily
Current positions: Retired – Public sector and Board Member of various companies
Previous positions: General Director of Local Shares Dept, Hassana Investment, and Director of Direct Investments Department of General Organization for Social Insurance (GOSI)
Qualifications: Master’s degree in Economics - Western Illinois University, USA Bachelor’s degree in Economics - King Saud University, KSA
Experience: Social insurance, investment portfolios and shares. Sits on a number of other Boards and Committees
Dr. Adnan Abdulfattah Soufi
Current positions: Founder and Managing Partner of DAS Partners, Board Member of Natixis Saudi Arabia Investment, Vice Chairman of SISCO Group’s Board, Chairman of the Advisory Committee for the General Authority for Awqaf, and Board Member of Fitaihi Holding
Previous positions: Member of the Board of Commissioners of the Capital Market Authority (CMA) by Royal Decree appointment, Chairman of the Advisory Committee of the CMA Board, CEO of SEDCO Holding, Dean of the Faculty of Economics and Administration as well as Professor of Business Administration and International Finance at King Abdulaziz University (KAU) , and Senior Associate Member of Oxford University’s St. Antony’s College
Qualifications: Fulbright Scholar Ph.D. in Business Administration and International Finance - George Washington University, USA Bachelor’s degree in Economics - King Saud University, KSA
Experience: Executive strategist leader, specialized in corporate governance as well as business development, institutional investment, and leading transformation
Eng. Mutaz Qusai Alazawi
Current positions: Managing Director of his Group of Companies, Chairman of Herfy Foods’ Board, Vice Chairman of Riyadh Bank Board, Chairman of Qatrana Cement, and Board Member of Mobily, Arabian Cement., SICEP, ST&T, and Wusataa
Previous positions: Running his Group of Companies, and Director at Merrill Lynch, KSA
Qualifications: Bachelor’s degree in Computer Engineering - King Saud University, KSA
Experience: Investment, trade, financial markets, construction management, banking, and M&A. Sits on a number of other Boards and Committees
Mr. Mohammed Ibrahim Al Issa
Current positions: CFO of Assila Investments, and Board Member of Kinan International Real Estate Development and BlackRock Saudi Arabia
Previous positions: Head of Balance Sheet Management and Investment at Saudi British Bank (SABB), and Member of the Board of Directors of Sukoon Real Estate Company and Al Aqeeq Real Estate Company
Qualifications: Bachelor’s degree in Commerce, Finance - Sauder School of Business, University of British Columbia, Canada
Experience: Financial management, investments, and financial markets
‘*’ Has been reclassified as an independent member during February 2022 as per independency criteria
Mr. Bader Hamad Al Rabiah
Current positions: Vice Chairman of Board and CEO of Noor Al-Salhiya Real Estate, Board and Audit Committee Member of Mezzan Bank, Member of the Board and Audit Committee and Chairman of the Risk Management Committee of Noor Financial Investment, Board Member and Member of the Executive Committee of Al-Manar Finance and Leasing Company, and Member of the Board at Nakheel Agricultural Production Company, MIDCHEM in KSA, International Hotels Group in Jordan, and Ikarus Real Estate in the UAE
Previous positions: Supervisor of Real Estate Financing at Kuwait Finance House, and Head of Real Estate Investment at Noor Financial Investment Company
Qualifications: Bachelor’s degree in Accounting - Kuwait University
Experience: Business management, financial auditing, risk management and real estate investment
Mr. Fahad Abdullah Al Kassim
Current positions: Managing Partner and Chairman of the Board of Directors of AlKassim Accounting Office
Previous positions: CEO of Amwal Financial Consultants, General Manager of Othaim Trading Group, Managing Partner at KPMG International, and Executive Director at Dallah Hospital
Qualifications: Bachelor of Science degree in Management (Accounting major) - King Saud University, KSA Management and Leadership Program - Oxford University, UK
Experience: Financial, administrative, and auditing consultancy, executive management in a health institution, and retail and wholesale, and sits on other Boards and Committees
Mr. Abdulrahman Mohammed Ramzi Addas
Current positions: Chairman of Savola World Board of Trustees for CSR and Member of Savola Group Board and the Remuneration and Nomination Committee, Member of the Board, Executive Committee and Audit Committee Member Of Alinma Bank, Chairman of the Board of Diyar Al Khayyal Real Estate Development, Chairman and Risk Management Committee Member of Tunisian Saudi Bank , Board Member of Al Rabie Saudi Food and Chairman of the Audit Committee, Board Member and Chairman of the Investment Committee and Member of the Nomination and Remuneration Committee at Environment Fund, Member of the Risk Committee at Saudi Ground Services, Member of the Risk and Compliance Committee of General Authority for Zakat, Tax and Customs, and Member of the Investment and Loans Committees at Agriculture Development Fund
Previous positions: Several senior executive positions at the National Commercial Bank, Managing Director for Real Estate Group in charge of real estate investments, and Member of the Executive and Strategic Committees at SEDCO
Qualifications: Master’s degree in Business Administration (Finance major) - University of Denver, USA
Bachelor’s degree in Business Administration (First Degree Honors) - King Abdulaziz University, KSA
Experience: Banking, risk management, strategic management and investment
Mr. Rakan Abdulaziz Al Fadl
Current positions: Founder and Director of London Realty Limited, Executive Director and Board Member at Alfadl Group, Board Member and President and CEO of Sahara Building Contractors, Board Member and Investment Committee Member at Alfadl Investments, and Board Member and Investment Committee Member at Alfadl Real Estate.
Previous positions: Running his Group of Companies
Qualifications: Bachelor’s degree in Finance and Economics - Babson College, USA
Experience: Several managerial and leadership positions and Board memberships in Al Fadl Group of Companies. Sits on a number of other Boards and Committees
Mr. Waleed Khalid Fatani
Current positions: Group CEO
Previous positions: CEO of Saudi Fransi Capital, Group Treasurer of Abdul Lateef Jamil and Capital Markets and Investment Advisor to the President, General Manager of Deutsche Bank KSA, and various roles with Banque Saudi Fransi including Head of Group Treasury and a Member of several Executive Committees
Qualifications: Bachelor of Science degree in Accounting - California State University, USA
Experience: Over 27 years of banking, financial and investment experience, and experience across a variety of business and financial services sectors
Mr. Sameh M. Hassan
Current positions: CEO of Savola Foods Company
Previous positions: Chief Portfolio Officer of Al-Faisaliah Group, CEO of Saudi Tadawi Healthcare, COO of Basamh Trading and Industries Group, and Board Member of a number of other companies
Qualifications: Bachelor‘s degree in Economics - American University, Egypt
Experience: Leadership, planning and management of foods and industrial multinational companies and other diverse sectors
Dr. Bander T. Hamooh
Current positions: CEO of Panda Retail Company
Previous positions: CEO of Al Nahdi Medical Company, and General Supervisor of Public Affairs at the Ministry of Health
Qualifications: Bachelor’s degree in Pharmaceutical Science - King Saud University, KSA
Experience: Over 30 years of experience in retail, pharmaceutical and food industries in both private and public sectors. Serves as a Board Member for a number of companies
Mr. Wajid Usman Khan
Current positions: Group CFO
Previous positions: CFO and Head of IT of Savola Foods Company, various other senior positions in Savola Group including Executive Director Group Finance and Treasury, Executive Director Corporate Finance, Finance Director and Assistant General Manager Finance, Assurance, and Business Advisory at PricewaterhouseCoopers (PwC) in Saudi Arabia and Pakistan
Qualifications: Master’s degree in Commerce - HEC, Pakistan Professional qualifications in Chartered Accountancy Fellow Member of Institute of Chartered Accountants of Pakistan Associate Member of Institute of Chartered Accountants of England and Wales Master’s degree in Business Information Technology - DePaul University, USA
Experience: Over 20 years of experience in financial management, corporate finance, strategy and digital transformation with Savola Group and its subsidiaries
Mr. Mohammad Nasr
Current positions: Chief Investment Officer
Previous positions: Various leadership positions in investment strategy and transactions across MENA, Europe and Asia in private equity, mergers and acquisitions, and consulting with leading global and regional companies such as Credit Suisse, Gulf Capital and Al Mal Capital (an investments subsidiary of Dubai Investments PJSC)
Qualifications: Master’s degree in Business Administration - London Business School, UK Bachelor’s degree in Industrial and Manufacturing Systems Engineering - Lehigh University, USA
Experience: Experience in investment and operational strategy leadership, deal origination, restructuring, M&A, managing investment portfolios and exit plans across several sectors
Mr. Elnour Ali Saad
Current positions: Executive Director, Corporate Governance, Compliance, Legal Affairs, and Board Secretary
Previous positions: Various senior positions in Savola Group including Executive Director of Corporate Governance, Compliance and Legal Affairs of the Group, Director of Corporate Governance and Board Affairs for Savola and its subsidiaries including the Food and Retail sectors, and Senior Manager of Corporates, Board Affairs and Corporate Communications
Qualifications: Master’s degree in Law (LLM) - University of Cumbria, UK Bachelor’s degree and a Master’s degree in Business Administration - Sudan University of Science and Technology (SUST), Sudan Certificates in Corporate Governance, Compliance, Board and Committees Secretary from reputable regional institutions
Experience: Over 19 years in corporate governance, compliance, legal affairs, Board of executives’ affairs, investor relations and shareholders’ matters and corporate communications. Significant experience in providing corporate governance and legal consultations in CMA regulations, Companies’ Law, preparing complex reports and legal memorandums, contracts and agreements
Mr. Morhaf M. Alsamman
Current positions: Executive Director, Human Resources and Corporate Services
Previous positions: Head of Human Resources and Head of Talent Acquisition for Savola Group, and various positions in local and multinational companies, including Emaar Economic City, NCB and Cristal Global
Qualifications: Certified Professional in Human Resources – Internationalism (PHRi) from the HR Certification Institute Master’s degree in Business Information Technology - DePaul University, USA Experience: Over 14 years of experience in the field of HR management, mainly covering HR business partnerships, staffing and recruitment, organization development, performance management, training and development, Saudization programs, and HR policies and procedures. Also a member of Herfy’s and Al Kabeer Group’s Reimbursement and Nomination Committee
Mr. Aly Assem Barakat
Current positions: Group Chief Audit Officer
Previous positions: Senior Manager at Abu Dhabi Accountability Authority, Manager at KPMG, and Manager at Ernst & Young (EY)
Qualifications: Bachelor’s degree in Commerce (Accounting major) - University of Helwan, Egypt Licensed Certified Public Accountant, USA Chartered Global Management Accountant Association of International and Professional Accountants
Experience: Over 25 years in the financial sector affairs, internal and external audit and quality assurance, governance, enterprise risk management and compliance
Mr. Yasser Hassan Dahlawi
Current positions: Executive Director, Risk Management
Previous positions: Head of Regulatory Compliance, Enterprise Risk Management at The National Commercial Bank (NCB), and Senior Advisor at KPMG, Saudi Arabia
Qualifications: Master of Science degree in Engineering and Technology Management - Portland State University, USA Bachelor of Science degree in Industrial Engineering - King Fahad University of Petroleum and Minerals (KFUPM), KSA
Experience: Over 10 years of experience in risk management, mainly covering enterprise risk management, risk reporting, Basel II/III, capital planning and allocation, and risk policies procedures
Mr. Amr Hamzah Almadani
Current positions: Director, Corporate Communications and Marketing
Previous positions: Various marketing roles including Head of Shopper Marketing in Panda Retail Company, and marketing positions in Emaar the Economic City and Fakieh Tourism Group
Qualifications: Master’s degree in International Business - Hull University, UK
Bachelor’s degree in Marketing - King Abdulaziz University, KSA
Experience: Over 13 years of experience in marketing, brand management, media, digital media, communications, public relations and retail