Saudi billionaire Alwaleed will continue as chairman of Kingdom Holding

Saudi's Kingdom Holding announces chairman, vice chairman for new three-year term

  
Saudi Prince Alwaleed bin Talal speaks during an interview with Reuters at his offices in Kingdom Tower in Riyadh. Mohamed Fahmy, who has worked with company for about five years as a close aide of the Saudi billionaire, will leave the firm at the end of February.

Saudi Prince Alwaleed bin Talal speaks during an interview with Reuters at his offices in Kingdom Tower in Riyadh. Mohamed Fahmy, who has worked with company for about five years as a close aide of the Saudi billionaire, will leave the firm at the end of February.

REUTERS/FAISAL NASSER

Saudi billionaire Prince Alwaleed bin Talal will continue to serve as chairman of the board of directors of his investment firm Kingdom Holding for a new three-year term. 

According to a bourse filing on Monday, the board of directors has also elected Lama Abdulaziz AlSulaiman as vice chairman and approved the formation of an investment committee, headed by Alwaleed. 

The new term started on June 5, 2021 and will end on June 4, 2024. 

Founded in 1980, Kingdom Holding’s portfolio includes CitiGroup, Banque Saudi Fransi, Four Seasons Hotels & Resorts and Savoy, among many others. The company posted a net profit of 91 million riyals ($24.2 million) for the three months ending March 31, 2021, against a net loss of 50 million riyals a year earlier. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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© ZAWYA 2021

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