Al Saif Stores Development and Investment Company, a leading investment holding company, has announced the appointment of Ahmed AlSultan as Chief Executive Officer, effective from December 2024. 

Confirming the news on Tadawul, the company said, “Al Saif Stores Development and Investment Company announces the Board of Directors' decision to appoint Mr. Ahmed bin Saleh Al-Sultan as Chief Executive Officer, effective December 17, 2024.”

Ahmed succeeds Mohammed bin Suleiman Al Saif, who has stepped down from the role after over 13 years. The company stated, "Company announces the acceptance of the resignation of Mr. Mohammed bin Suleiman Al Saif, Executive Board Member, from his position as the company's CEO and his appointment as Managing Director on the Board of Directors, effective December 17, 2024... This decision aligns with the Board of Directors’ vision to enhance governance and support the company's strategic directions. Mr. Mohammed has been entrusted with supervisory and leadership responsibilities, including overseeing the implementation of the company’s strategy and working towards achieving its future goals in coordination with the new executive management."

Mohammed has been appointed as the Managing Director of the company to focus on "work of the Board of Directors and committees", and "overseeing the implementation of the company’s strategy with the new executive management." The board extended wishes to him saying, "on behalf of the company and its employees, extends its sincere gratitude to Mr. Mohammed bin Suleiman Al Saif for his outstanding efforts during his tenure as CEO. His leadership has significantly contributed to achieving notable accomplishments, strengthening the company’s position, and advancing its business development."

Ahmed, who served as the CEO of Alaseel for over six years, brings over two decades of leadership experience to his new role. He exited Alaseel in July 2024, and currently serves as a member on the board of Arabian Oud, Al Saif Stores, and Fawaz Alhokair Group. He also serves as the Chairman of the Audit Committee for Arabian Oud. Before Alaseel, he worked with NESK Trading Projects for nearly 15 years in key roles including as Vice President, where he oversaw strategic planning, growth, innovation, training, and research. 

Ahmed stepped down as CEO of Alaseel in July this year, when he posted: "After years of hard work and collective efforts, I would like to announce the end of my professional journey with AlAseel Company and its subsidiaries. This period has been filled with challenges and successes that have contributed to the company's growth and strengthened its market position...I express my deep gratitude to every individual at AlAseel Company and its subsidiaries. Your efforts and dedication have been a source of inspiration for me and the company. I also thank the company's Board of Directors for their support and trust...I leave Al-Aseel feeling proud and grateful for all that we have achieved together. I wish the company continued success and prosperity."

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Ahmed’s academic background includes an MBA from Brunel University of London, and several certifications in industry leadership skills including management, marketing, negotiation, operations management, retail, team building, and decision-making. 

Welcoming Ahmed on the leadership team, the company added, “The Board of Directors wishes Mr. Ahmed bin Saleh Al-Sultan all the best in achieving the company's goals and strategy as CEO, and in supporting its journey towards growth and sustainable excellence.”