Saudi Industrial Development Company (SIDC) has announced the appointment of Eng. Bandar Alhomaidhi as Managing Director and Chief Executive Officer, effective immediately.  

SIDC has also named him and Abdullah bin Mohammed Al Asaker as as Vice Chairman and Chairman of the company, respectively.

Announcing the appointments on Tadawul, the company stated: “The company's board members for the new term were elected, starting from 01/01/2025 AD for a period of three years, ending on 31/12/2027 AD. The company announces the decisions of the board of directors in its meeting held on Wednesday, 01/07/1446 AH, corresponding to 01/01/2025 AD, as follows:  

• Appointment of Engineer Bandar bin Abdullah bin Ibrahim Al-Homaidhi (Executive Member) as Vice Chairman of the Board of Directors and Managing Director, with the responsibilities of the Chief Executive Officer (CEO).
• Appointment of Mr. Abdulelah bin Mohamed bin Abdulrahman Al Asaker (Non-Executive Member) as Chairman of the Board of Directors.”  

Alhomaidhi has been serving the company as Managing Director since January 2019 and has been reappointed to the position. In addition to these appointments, SIDC has formed its Remuneration and Nomination Committee, appointed a board secretary, and named a representative for the Capital Market Authority, Saudi Stock Exchange Group, and Securities Depository Center Company.  

Alhomaidhi brings approximately 25 years of strategic leadership and advisory experience across key sectors in KSA. He also serves as Chairman of the board for various companies, including Global Marketing Company for Sleeping Systems Ltd., Arab Industrial Company for Spring Mattresses and Sponge Ltd., and Managing Director of RadStar Company for Investment Projects and Wifadah Arabian Company. Additionally, he is a board member of SABIC’s Arabian Industrial Fibers Company and has been the General Manager of Bandar Abdullah Alhomaidhi Office, an engineering consultation firm, since 2004.  

He began his career with the High Commission for the Development of Riyadh, later working with Alhomaidhi Watches and Jewelers Company before transitioning into leadership roles.  

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Academically, Alhomaidhi holds a Bachelor of Engineering in Architecture and Planning from King Saud University. He has also contributed significantly as a member of various committees and councils, including the Chamber of Commerce and Industry, the Saudi Economy Society, the National Committee for Executive Corporations, and the Young Entrepreneurs Committee. He remains an active member of the Saudi Council of Engineers - KSA.