Nadhmi Al-Nasr, who has been the interim president for King Abdullah University of Science and Technology (KAUST), has been appointed the new CEO of Neom, a mega city planned in Saudi Arabia.

The decision follows the appointment of Klaus Kleinfeld, the CEO of the project, as an adviser to Crown Prince Mohammed bin Salman, reports said.

Kleinfeld, who had been tasked with developing the Neom project in northern Saudi Arabia, will take over wider responsibilities to enhance the economic, technological and financial development of Saudi Arabia, said a report in Arab News, which quoted a statement.

The German, who is former chairman and CEO of Alcoa and former president and CEO of Siemens, will begin his role on August 1, 2018.

Al-Nasr, who has over 30 plus years of experience with Saudi Aramco and KAUST, had worked on developing the strategy and development of Neom Bay, one of the initial stages of Neom's development, the report said.

The $500 billion mega city on the Red Sea coast is part of a huge national push to diversify Saudi Arabia's economy. Kleinfeld will retain a role as a board member at Neom.

© Copyright 2014 www.tradearabia.com

Copyright 2018 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.