Nayifat Finance has appointed Khalid AlJenaidel as the Acting Chief Executive Officer, effective from May 28, 2025, as stated in an exchange filing on Saudi Arabia’s Tadawul platform.

The company also noted that the appointment is for an interim period, stating: “...the issuance of the Board of Directors’ resolution by circulation on 21/11/1446 AH, corresponding to 19/05/2025 AD, which includes assigning Khalid Abdulaziz AlJenaidel to the position of Acting CEO of the company for a period of six months, starting from 01/12/1446 AH, corresponding to 28/05/2025 AD, after obtaining the non-objection of the Saudi Central Bank on 23/11/1446 AH, corresponding to 21/05/2025 AD. The Board of Directors wishes him success in his upcoming assignments.”

AlJenaidel’s appointment comes as a result of the resignation of Fahd Ibrahim AlMufarrij, who requested not to renew his contract. As confirmed in a previous filing: “Nayifat Finance Company announces that the Board of Directors has approved the request submitted by Fahd Ibrahim AlMufarrij, Chief Executive Officer, not to renew his contract with the Company in his capacity as CEO and as a member of the Executive Committee (Executive Member from outside the Board), due to personal circumstances. His last working day will be 28-05-2025.”

It also extended their appreciation and thanks to AlMufarrij, “wishing him continued success and prosperity,” and further added that details regarding the permanent appointment of the Acting CEO will be shared in due course.

The new Acting CEO, AlJenaidel, joined the finance company in September last year as the Chief Financial Officer. Sharing a brief about the Acting CEO, the company added: “He has over 24 years of experience in the banking and financial institutions sectors, during which he has held several leadership positions in financial management, risk management, and treasury, most recently as CFO of Saudi Fransi Leasing Company (JB).”

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Previously, he has held key roles at Saudi Awwal Bank (SABB), Arab National Bank, and Samba Financial Group. On the academic front, he holds a bachelor's degree in International Business Administration from King Abdulaziz University, a diploma in Commercial Accounting from the Institute of Public Administration, and has completed an Executive Development Program at London Business School. He also holds key certifications in leadership and management from prominent institutions.

Most recently, Nayifat also appointed Dhari Al-Jarba as Head of Human Resources to oversee HR and people transformation initiatives.