Saudi Arabia's Almarai, the Gulf's largest dairy company, has appointed Abdullah Nasser Al Bader as CEO, effective from March 7.

Al Bader was the executive vice president of Almarai’s bakery line of business since 2015, the company said in a bourse statement.

Almarai, which has the kingdom’s sovereign wealth fund (PIF) and Savola Group, the kingdom’s largest food products company, among its investors, posted a 10 percent rise in the full-year 20202 net profit driven by a 7 percent increase in revenue in food, long-life dairy and poultry segments, and lower funding costs.

(Writing by Brinda Darasha; editing by Seban Scaria)

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