Saudi's Red Sea International appoints new CEO

New chief has nearly three decades of experience in business management

  
Light trails from automobile traffic traveling along the King Fahd highway, left, and Olaya Street, right, in Riyadh, Saudi Arabia. Image used for illustrative purpose.

Light trails from automobile traffic traveling along the King Fahd highway, left, and Olaya Street, right, in Riyadh, Saudi Arabia. Image used for illustrative purpose.

Getty Images/Simon Dawson/Bloomberg

Saudi Arabia’s Red Sea International Company (RSI) has appointed Khalid Mohammed Fagih as its new chief executive officer and managing director. 

The Riyadh-headquartered firm said on Tuesday that it looks to capitalise on the new CEO’s extensive experience as it prepares to cater to projects related to the kingdom’s ambitious Vision 2030 and undertake a restructuring and consolidation strategy. 

RSI is a real estate and facility management company with focus on both mass volume and bespoke products. 

Last year, the company secured three contracts with a combined value of more than $500 billion from The Red Sea Development Company and NEOM giga project backed by Saudi’s Public Investment Fund (PIF). The deals include engineering, procurement and construction of Neom Industrial City base camp in Saudi. 

Fagih has 26 years of experience in corporate leadership transformation and business management. 

“[His] appointment comes at an exciting juncture of RSI’s journey towards business restructuring, consolidation and transformation. RSI looks to catapult its operations by developing its products and services, improving performance, reducing costs, adopting digitisation and closing low-performing assets,” the company said. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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