Saudi Arabia Names Neom CEO as Adviser to Crown Prince - Bloomberg:
Klaus Kleinfeld, a German executive who ran Siemens AG and Arconic Inc., will take a new role advising Saudi Arabia’s Crown Prince on his reform plans and leave his current position as chief executive officer of a planned mega-project in the kingdom called Neom. Kleinfeld, the CEO of Neom -- a $500 billion new city on Saudi Arabia’s Red Sea coast -- will “take over wider responsibilities to enhance the economic, technological and financial development” of the kingdom as an adviser to Crown Prince Mohammed bin Salman, according to a statement to Bloomberg News on Monday. In the change effective Aug. 1, Kleinfeld will retain a role at Neom as a board member. Nadhmi Al-Nasr, who led the development of Neom Bay, the project’s initial stage, will take over as Neom’s CEO, according to the statement.
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