Some of Saudi Arabia’s listed companies are seeing key leadership roles reshuffled at a rapid pace, with about 10 CEOs replaced this quarter alone.
Rania Nashar, the first woman to lead a banking group in the kingdom, resigned from Samba Financial Group on Tuesday and will become a senior adviser at the country’s $360 billion wealth fund. Saudi Telecom, the Middle East’s biggest phone operator, last month said its CEO would leave after just two years in the role.
Saudi Arabia, the biggest Arab economy, has been the most active in the Middle East in pushing for consolidation in various sectors in the recent past. Key leadership positions have been reshuffled, including those at its wealth fund.
There are about 200 companies listed on Saudi Arabia’s stock exchange, and most resignations this quarter were linked to unexplained “personal circumstances.”
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