RIYADH: Prince Alwaleed bin Talal, chairman of Rotana Holding, has approved the decision of the Board of Directors of Rotana Holding to make management changes effective Tuesday.
The group will be restructured to four business units: TV Broadcasting, Audio, Studios and Rotanta Media Services (RMS). The Emerging Business and the Digital Media Business Units (BU) will be folded under these business units. The presidents of the BUs will report to Fahad Alsukait, Rotana group CEO.
The changes are meant to further improve the current group structure of the group and have each BU responsible for its P&L, thus enhancing profitability.
The organizational changes are effective immediately as Firas Khashman, currently the general manager of Emerging Businesses, will be appointed vice president Audio Sector reporting to Salem Al-Hindi, president, Audio Sector whose responsibilities have also been expanded.
Prince Alwaleed said: "The expansion of Salem Al-Hindi's responsibilities reflects our firm confidence in his leadership."
Prince Alwaleed has a strong media presence and influence through his investments in media and entertainment in the Arab world, and beyond such as the Saudi Research and Marketing Group (SRMG), News Corporation and Rotana Holding.
In only a short period of time since its launch, Rotana has acquired the largest Arabic film library and Arabic music archive. Rotana distributes, produces and manages many of the most popular Arab artists in the region. Rotana also owns a bouquet of leading channels and employs over 1,300 employees across the Middle East.
Recently, Rotana Group won the third FM radio license in Saudi Arabia for SR67 million. In February this year, Rotana Group also announced that Newscorp has reached an agreement to buy a 9.09 percent stake in Rotana Group, to further develop its position in the media sector in the Middle East and expand its horizon.
© Arab News 2010
