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The CEO of Saudi food wholesaler and retailer Abdullah Al-Othaim Markets will leave the company effective September 30, 2021.
The outgoing CEO, Abdul Aziz Abdullah Saleh Al-Othaim, will be replaced by Mohsen Sager Husain, who is scheduled to assume his new role on October 1, the firm said in filing to the Saudi Stock Exchange (Tadawul) on Sunday.
The company’s net profit for the second quarter of the year plunged 61 percent to 47.93 million riyals ($12.8 million) compared to the same period in 2020.
New CEO
Husain holds a bachelor’s degree in business administration from the University of Texas-USA. He also completed a food management programme at Cornell University, New York in 1994.
He also has more than 25 years of work experience in food retail in and outside Saudi Arabia.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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© ZAWYA 2021
