Sunday, Nov 20, 2011
(This item was originally published Saturday.)
DUBAI (Zawya Dow Jones)--Saudi Arabia's Mohammad Al Mojil Group, or MMG, Saturday said its board of directors had approved the appointment of Ebrahim Zadeh as the firm's new chief executive officer and president effective from Nov. 19, after Ibrahim Al Shuweir last week resigned from his posts with immediate effect.
MMG, in a statement posted on the Saudi bourse website, said in its meeting on Nov. 16 the board also accepted Al Shuweir's resignation from executive membership of the board. The company didn't give a reason for Al Shuweir's resignation.
Zadeh brings over 30 years of experience in leading positions with major multinational engineering, procurement and construction, or EPC, contractors, MMG said.
MMG shares were last trading down 1.03% at SAR19.20 in a broadly negative market.
-By Dubai Bureau, Dow Jones Newswires; +9714 446-1686; djnews.dubai@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
20-11-11 0352GMT
