Saudi Advanced Industries Company (SAIC) announces the appointment of Khalid bin Saeed Abu Khadra as Chief Executive Officer, effective October 13, 2024.

Khalid brings nearly two decades of leadership experience in the finance and investment sectors. Most recently, he served as General Manager of Investment (Treasury) at Alinma Bank for four years. He also worked with Al Rajhi Bank and The Saudi Investment Bank earlier in his career.

The company welcomed Khalid to the leadership team, stating, “Mr. Khalid Abu Khadra has over 18 years of diverse professional experience in investment, portfolio management, liquidity management, and financial centers. He began his career in the banking sector with leading Saudi banks, where he held executive leadership roles and led efforts to develop and implement innovative investment strategies, applying effective risk management to ensure sustainable financial performance.”

On the academic front, Khalid holds a bachelor’s degree in Financial Management from King Saud University and has earned several certifications in leadership and management.

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Khalid succeeds Acting CEO Dr. Abdullah bin Sulaiman Al-Juraish, who stepped down earlier this month due to personal reasons. Al-Juraish will continue to serve as Managing Director. The company stated, "The Board of Directors has accepted Dr. Abdullah bin Sulaiman Al-Juraish's resignation as Acting CEO, citing personal circumstances, with him continuing as Managing Director until the end of the contract. The Board extends its thanks and appreciation to Dr. Al-Juraish for his efforts (as Acting CEO) during his presidency and wishes him continued success."

Dr Al-Juraish was appointed Acting CEO and Managing Director in 2023, following the termination of Musa Abdullah Al-Ruwaili, who held the roles for a few months.