PHOTO
Saudi restaurant operator Raydan Food Company, whose accumulated losses have reached nearly half of its capital, has appointed a new CEO following the resignation of Fawzan Abdullah Ah-Harthy.
Al-Harthy is leaving the CEO position due to personal reasons effective April 30, 2022, according to a disclosure on the Saudi Stock Exchange (Tadawul) on Monday.
The new CEO, Mansour Nasser Awadallah Al-Sulami, was appointed by the board of directors during a meeting on Sunday. He will assume his new role in addition to his position as the managing director of the company.
As of December 2021, Raydan Food’s accumulated losses reached more than 157 million riyals ($41.8 million) or 46.67 percent of its capital.
(Writing by Cleofe Maceda; editing by Seban Scaria )
