Red Sea International Company has appointed Ghassan Nassief as Chief Executive Officer, following the resignation of Hani Baothman after the completion of the company’s restructuring programme.
The company’s Board of Directors approved Baothman’s resignation on August 28, 2026, with the departure from his role as Group CEO taking effect the same day after he completed an agreed three-month notice period.
Baothman will continue to serve as Managing Director, allowing the company to retain his leadership experience as it executes its strategic priorities, projects and business initiatives. His responsibilities will include supporting the company’s capital increase plan and ensuring an orderly transition of CEO responsibilities.
The leadership change follows the completion of Red Sea International’s restructuring programme, which included rationalising unprofitable international operations and refocusing the business on its core oil and gas activities in Saudi Arabia through its Jubail facility.
The company said the restructuring and leadership transition are intended to strengthen its readiness for the next phase of its strategy while maintaining continuity in the execution of approved business plans.
Nassief, who takes over as CEO with immediate effect, brings more than 25 years of professional and executive experience across corporate banking, investment, financial advisory, restructuring, business transformation and business development.
Before joining Red Sea International, Nassief served as Managing Director of Teneo Saudi Arabia and held a business development leadership role at Swicorp. He was also Head of International Corporate Banking at Emirates Islamic Bank and held senior positions at Saudi Hollandi Bank, National Commercial Bank, Bank Albilad, SABB and Banque Saudi Fransi.
Nassief also founded GNN Financial Advisory, which provides financial advisory, restructuring, debt advisory and mergers and acquisitions services.
He holds a bachelor’s degree in electrical engineering from King Fahd University of Petroleum & Minerals and has completed professional certifications and specialised training in finance, leadership and restructuring.
Baothman was appointed CEO and Managing Director of Red Sea International in November 2025. His tenure as Managing Director will continue until the end of the current board term on May 9, 2027.
The company’s latest leadership move places Nassief at the helm as Red Sea International seeks to build on its restructuring efforts, strengthen its core Saudi operations and advance its capital plans.