Tihama’s CEO troubles seem never-ending, as its newly appointed CEO, Udoy Sancar Chatterjee, has requested to be relieved from the position.  

Announcing the CEO’s exit, the company stated: “...announces the decision of its Board of Directors No. 25 dated 03/03/2025, which includes approval of the request of the CEO, Mr. Udoy Sancar Chatterjee, to terminate the contractual relationship by mutual consent as of 15/03/2025 due to his special circumstances. The company will announce any developments in the event of the appointment or assignment of a new CEO to the company in due course.”  

The reason for Udoy’s resignation was not stated, with only a mention of “due to his special circumstances.”

Udoy was appointed as the CEO after the company dismissed its former CEO, Abdul Aziz Najib Al-Suwailem, who alleged that it was a wrongful termination. The company subsequently faced a legal lawsuit after Al-Suwailem filed a complaint. Most recently, Tihama held an Ordinary General Assembly meeting, both in-person at the company's headquarters in Riyadh and online via the Tadawulaty system, to vote on whether to file a lawsuit against former Board Member Al-Suwailem and to authorise the Board of Directors to take the necessary legal actions. The results of this meeting are yet to be published.  

In December last year, the company confirmed signing a deal with WPP Group to create a new company called ICG Saudi Arabia, with approvals from all partners. The legal formalities are expected to be completed by June 30, 2025.  

On March 3, 2025, the company released its nine-month financial report, highlighting a decline in profits due to challenges in the education and production sectors. It also noted that net profit improved mainly due to cost-cutting measures and increased other revenues. However, high accumulated losses and auditor concerns indicate significant financial risks.  

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Without a strategic direction, Tihama is facing questions about its sustainability, with increased scrutiny on its financial struggles and restructuring efforts. The company has yet to announce a successor for the CEO position following Udoy’s exit.