Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) terminated the contract with chief executive officer (CEO), Mohammed Alsultan, effective Dec. 14, the firm said in a statement to Tadawul.
The company's board of directors appointed Mohamed bin Abdulaziz Alfadly as acting CEO, effective Dec. 15 until Jan. 4, 2021.
The board also approved the appointment of Khaled bin Saleh Al-Khattaf as CEO, starting Jan. 5, 2021.
Al-Khattaf obtained a Master's degree in finance and accounting from the University of Colorado, and a Diploma in applied economics from the American University in Washington.
He also took specialized courses in management and investment at Oxford University and INSEAD, in addition to attending international training centers in investment and economics, the statement said.
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