ACWA Power appoints Dr. Samir J. Serhan as new CEO

ACWA Power, a Riyadh-based global energy transition company, has appointed Dr. Samir J. Serhan as its new Chief Executive Officer, effective March 1, 2026, marking a planned leadership transition at the Saudi-listed energy and water giant.

Dr. Serhan succeeds Marco Arcelli, who has led the company since March 2023. Arcelli will remain as an advisor to the Chairman of the Board to ensure a smooth and structured transition. 

The succession, the company said, forms part of a disciplined governance framework overseen by its Board Nomination and Remuneration Committee, with the Board and Arcelli jointly agreeing on the timing to ensure continuity and stability. The company’s long-term strategic direction remains unchanged.

Dr. Serhan joined ACWA Power last year as President of Saudi Arabia and the Middle East, working closely with the executive leadership team in preparation for the transition. He previously served as Chief Operating Officer of US-based Air Products, where he held global responsibility for operational business and project execution, with P&L accountability across the Americas, Asia, Europe, Africa, the Middle East, and India. His remit included oversight of technology, global engineering, manufacturing, and equipment.

Earlier in his career, Dr. Serhan was President, Hydrogen at Praxair, and spent 14 years with Linde Group in leadership roles across the US and Germany, culminating as Managing Director of Linde Engineering. He brings more than three decades of global experience across large-scale industrial and infrastructure organizations, with a track record in operational transformation, institutional capability building, and disciplined growth in capital-intensive environments.

Mohammad Abunayyan, Founder and Chairman of ACWA Power, said “Acwa stands today as a Saudi national champion and a global leader in renewable energy, water desalination, and green hydrogen, and our position continues to strengthen. We are grateful for Marco’s leadership in advancing Acwa’s strategy and accelerating our growth trajectory. This structured leadership transition reflects the strength of our governance and the maturity of our business platform. Our strategic direction remains clear and unchanged. We are pleased to welcome Dr. Samir Serhan to his new role as CEO of Acwa.”

Dr. Serhan said, “Every day affords us new opportunities to help our customers and meet pressing energy and water needs around the world. I’m honored to lead Acwa at a pivotal moment as the company accelerates profitable global growth in renewable energy, water desalination, and green hydrogen solutions, including advancing green hydrogen to decarbonize heavy industries, to deliver scalable, sustainable impact worldwide. I look forward to working with our talented Acwa teams around the globe to build on the progress we have achieved and shape the next chapter of our journey.”

Reflecting on his tenure, Arcelli said, “Over the past three years, Acwa’s portfolio has doubled in size, and we are on track to double it again by 2030, scaling both our footprint and our impact. Acwa now produces around 25% of the world’s desalinated seawater. We have expanded into new markets, including Azerbaijan, China, Kuwait, and Senegal, while advancing energy export opportunities from Saudi Arabia, and cementing our leadership in green molecules. What we have achieved reflects the scale of our ambition, the discipline of our execution, the dedication of our people, and the trust of our partners.”