Highest-paid executives, board members of Saudi-listed firms in 2023

Top-Paid Executives in 2023 (SAR mln)

Company

Executive

2022

2023

Title

Notes

SRMG

Abdulrahman Ibrahim Rwaita

6.32

6.31

Chairman

SAR 6 mln in Chairman remuneration, and other allowances

Riyad Bank

Abdullah Mohammed Al-Issa

1.50

5.81

Chairman

Chairman remuneration and other allowances

Al Akaria

Ibrahim Al Alwan

5.76

5.77

CEO

Salaries, allocations, bonuses, in-kind privileges (car)

Herfy

Moataz Qusai Al Azzawi

5.34

5.28

Chairman

SAR 5 mln in Chairman remuneration, and other allowances

SNB

Saeed Al-Ghamdi

0.50

5.00

Chairman

SAR 4.5 mln in Chairman remuneration, and other allowances

AlJazira Takaful

Saqr Bin Abdul Latif Nader Shah

4.17

4.99

Executive Board Member & MD

Certain amount, other allowances, and MD remuneration

ACIG

Ali Yahya Ali Al-Jaafari

0.94

3.46

Executive Board Member & MD

A certain amount of SAR 2.1 million, other allowances, and periodic bonuses of SAR 1.25 million.

MRNA

Waleed Al Ghamlas

--

4.78

Executive Board Member & MD until Dec. 18, 2023

Certain amounts, other allowances, and offering and MD remunerations

Seera

Abdullah Nasser Abdullah Al Daoud

5.70

4.67

Executive Board Member & MD

SAR 4.17 million in MD remuneration

SASCO

Riyadh Almalik

6.47

4.37

CEO

Salaries, allowances, bonuses, and end-of-service benefits

MEPCO

Sami Safran

3.99

4.16

CEO

Salaries, allocations, in-kind privileges, and benefits.

Salama

Bader Khalid Dhaar Al-Anzi

0.02

3.90

Executive Board Member as of Sept. 11, 2022

Bonuses, end-of-service benefits, and other allowances

Alinma Bank

Abdulmalik Al-Hogail

3.50

3.89

Chairman

SAR 3 mln in Chairman remuneration, and other allowances

Banque Saudi Fransi

Mazin Abdulrazzak AlRomaih

3.80

3.79

Chairman

SAR 3.75 mln in Chairman remuneration, and other allowances

Red Sea

Khaled Ahmed Al-Faqih

1.81

3.76

Former CEO/current MD

Salaries, remuneration, and end-of-service benefits

Yanbu Cement

Ali Bin Abdullah Al-Ayed

3.64

3.70

CEO

Salaries, periodic bonuses, end-of-service benefits, and other allowances

SASCO

NA

--

3.65

CEO (Oil Company)

Salaries, other allowances, and end-of-service benefits

Al Othaim

NA

1.92

3.33

Chief business development officer

Salaries, periodic bonuses, and end-of-service benefits

SASCO

Sultan bin Muhammad Al-Hadithi

11.53

3.09

Executive Board Member & MD

Certain amount, other allowances and a profit share of SAR 2.69 million as MD

Northern Cement

Obaid Bin Saad Obaid Al Subaie

--

3.09

CEO

Certain amount, periodic bonuses, and other allowances

Dallah Health

Mohammed Rashid Al-Faqih

2.98

3.06

Executive Board Member

Certain amount, periodic bonuses, and other allowances

SACO

Abdel-Salam Bdeir

--

2.88

CEO

Salaries, other allowances, and end-of-service benefits

Gulf Union

Munir Hashem Al Borno

9.03

2.83

Executive Board Member

A payment of SAR 1.75 mln as Advisory Board Member, periodic bonuses of SAR 1.03 mln, and other allowances

Al Akaria

Moath AlMakhdob

2.71

2.82

CDO

Salaries, periodic bonuses, and other allowances

Al Akaria

Khaled Alsuhaibani

--

2.64

CCO

Salaries, periodic bonuses, and other allowances

Yanbu Cement

Waleed M. Baghdadi

1.34

2.56

Chief Human Resources Officer

Salaries, periodic bonuses, end-of-service benefits, in-kind privileges, and other allowances

MESC

Fadel bin Fawzan Al-Saadi

1.09

2.44

CEO

Salaries, periodic bonuses, and other allowances

SAIB

Abdullah bin Saleh bin Juma

1.80

2.43

Non-Executive Board Member

Certain amount and other allowances

Al Othaim

Muaffaq Mubarah

7.73

2.42

CEO

Salaries in 2023

SISCO

Khaled Soleimani

--

2.41

CEO

Salaries, periodic bonuses, end-of-service benefits, in-kind privileges, and other allowances

Al Akaria

Fahad Al-Aslami

2.22

2.39

CFO

Salaries, periodic bonuses, and other allowances

Maadaniyah

Shaker bin Nafel Al Otaibi

2.08

2.36

CEO

Salaries, end-of-service benefits, remuneration, and other allowances

MIS

Karthik Ramaswamy

1.84

2.33

CFO

Salaries, end-of-service benefits, and other allowances

Al Othaim

Marwan Ahmed Mohammed Ibrahim

2.18

2.32

CFO

Salaries and periodic bonuses

Thimar

Malafi Al-Marzuqi

0.23

2.30

Executive Board Member & MD

Salaries, end-of-service benefits, remuneration, and other allowances

Al Othaim

NA

--

2.24

CFO

Salaries and periodic bonuses

Al Othaim

NA

--

2.21

Vice President of Support

Salaries and periodic bonuses

Aslak

Abdullah Saad Al-Dosari

1.13

2.21

Executive Board Member

Remunerations, periodic bonuses, end-of-service benefits, and other allowances

Nayifat

Saleh AlOmair

0.84

2.19

Chairman

SAR 1.5 mln in Chairman remuneration, periodic bonuses, and other allowances

SARCO

NA

--

2.17

CEO

Salaries, end-of-service benefits, remuneration, compensations, and other allowances

SISCO

Mahmood Ahmed Hussain

2.07

2.15

CFO

Salaries, periodic bonuses, end-of-service benefits, in-kind privileges, and other allowances

Al Akaria

Mohammed Sari Anabtawi

2.25

2.13

CIO

Salaries, periodic bonuses, and other allowances

MIS

Khalid Sadaqa

1.75

2.13

Vice President Infrastructure & Technology

Salaries, end-of-service benefits, and other allowances

Yanbu Cement

Waleed Bin Mayouf

1.91

2.08

CFO

Salaries, periodic bonuses, end-of-service benefits, in-kind privileges, and other allowances

Al Akaria

NA

--

2.00

Chief Strategy Officer

Salaries, periodic bonuses, and other allowances

MIS

Salah Al-Wadi

1.74

2.00

EVP Cyber Security

Salaries, end-of-service benefits, and other allowances

Jamjoom Pharma

Mohammed Youssef Jamjoom

--

2.00

Chairman

Specific amount and Chairman allowances, as well as periodic bonuses worth SAR 1.75 billion for the Chairman.

Sumou

Jarallah Al Amrah

--

1.98

CEO

Salaries, allowances, and incentive plans.

MEPCO

Wadia Malibari  

1.81

1.96

COO

Salaries, allowances, in-kind benefits, and end-of-service bonus.

Alujain

Mohammed Bin Saleh Al-Khalil

0.37

1.95

Chairman

Specific amount and board meeting allowances, as well as periodic bonuses totaling SAR 1.5 million. 

MEPCO

Ahmed El Fazari

--

1.86

CCO  

Salaries, allowances, in-kind benefits, and end-of-service bonuses.

Saudi Electricity

Khaled Al Sultan

2.15

1.82

 Former Chairman

Specific amount as well as allowances for attending the board and sub-committee meetings, in addition to bonuses for technical and administrative work, totaling SAR 1.2 million.

SASCO

Saud Alotaibi

2.18

1.79

COO

Salaries, allowances, periodic bonuses, and end-of-service bonuses.

Tabuk

Fahd Bin Abdullah Ali Al Samih

1.35

1.78

CEO

Salaries, allowances, as well as allowances for attending the board and sub-committee meetings, and bonuses for executives.

Batic

Mohammed Al-Zamil

1.77

1.76

Executive Board Member

Allowances for attending the board and sub-committee meetings, as well as periodic bonuses, end-of-service bonus, and bonus for executives related to administrative, technical, and advisory work.

Dallah Health

Tarek Othman Alkasabi

1.78

1.76

Chairman

Specific amount as well as allowances for attending the board and sub-committee meetings, along with the amounts received by the board members in their capacity as workers or administrators or for their technical, administrative, or advisory work.

MEPCO

Qadir Yaqoub

1.90

1.68

Chief Strategy Officer

Salaries, allowances, in-kind benefits, and end-of-service bonus.

Al Akaria

NA

--

1.66

Chief Corporate Support Officer

Salaries, allowances, annual benefits, and periodic bonuses.

Sumou

Asem Abulfaraj

--

1.61

COO

Salaries, allowances, periodic bonuses, and incentive plans.

Yanbu Cement

Adeeb Bin Ahmed Al Tayyar

1.43

1.56

Vice President of Sales & Marketing

Salaries, allowances, in-kind benefits, periodic bonuses, end-of-service bonus, and expense allowance.

SIDC

Bandar Alhomaidhi

1.52

1.52

Executive Board Member

Specific amount and bonus for the Chairman and Managing Director.

Farm Superstors

Maher Hazem Al-Aswad

1.42

1.52

CEO & MD

Salaries, allowances, periodic bonuses.

Tawuniya

Abdulaziz Alnowaiser

1.10

1.50

Chairman

Specific amount as well as allowances for attending the board and sub-committee meetings, totaling SAR 1 million.

Red Sea

NA

--

1.50

Facilities & Services GM

Salaries and allowances.

Farm Superstores

Tarik Hazem Al-Aswad

1.39

1.49

COO & Board Member

Salaries, allowances, and periodic bonuses.

MIS

Simon Haidar

1.23

1.49

Vice President of Business Solutions

Salaries, allowances, annual variables, and end-of-service bonus.

Makkah Construction

Hamza Serafi

1.48

1.48

Executive Board Member & MD

Allowances for attending the board and sub-committee meetings, as well as periodic bonuses and bonus for the managing director if he is a board member.

Al Akaria

NA

--

1.47

Chief Governance, Risk and Compliance Officer

Salaries, allowances, annual benefits, and periodic bonuses.

Wafrah

NA

1.11

1.47

CEO

Salaries, allowances, and in- kind benefits.

Northern Cement

Saud Al Arifi

1.00

1.46

Executive Board Member

Specific amount and allowances for attending the board and sub-committee meetings, as well as the amounts received by board members in their capacity as workers or administrators.

SADAFCO

Mussad Al-Nassar

1.15

1.43

Executive Board Member

Specific amount and allowances for attending the board and sub-committee meetings, as well as end-of service bonus and allowances received by board members in their capacity as workers or administrators for their administrative or advisory work.

Red Sea

NA

--

1.43

CFO

Salaries and allowances.

Yanbu Cement

Ali Yahya Al-Zailaie

1.35

1.42

Vice President of Manufacturing

Salaries, allowances, in-kind benefits, periodic bonuses, end-of-service bonus, and expense allowance.

Raydan

Mansour Al-Salmi

2.40

1.39

MD and CEO

Salaries, allowances, and end-of-service bonus.

Wafrah

Maqid Alotaibi

--

1.39

Executive Board Member & MD

Allowances for attending the board and sub-committee meetings, as well as periodic bonuses, in-kind benefits and bonus for the managing director or board secretary if he is a board member.

Saudi Pipes

Renwar Berzinji

--

1.36

Executive Board Member

Specific amount and allowances for attending the board and sub-committee meetings, as well as allowances received by board members in their capacity as workers or administrators for their technical, administrative or advisory work.

Amana

Rachid Abi Nader

--

1.35

MD

Salaries, allowances, annual performance bonuses, and executive bonuses.

Red Sea

NA

--

1.31

Strategic Director

Salaries and allowances.

Retal

Abdullah Al-Braikan

--

1.30

Executive Board Member

Bonus for technical, administrative, and advisory work.

Farm Superstores

Mohamed Hazem Al-Aswad

1.19

1.29

Shared Services Head & Board Member

Salaries, allowances, and periodic bonuses.

Yanbu Cement

Nabil Mohammed  Baghdadi

1.13

1.28

Advisor to CEO for Legal Affairs

Salaries, allowances, in-kind benefits, periodic bonuses, end-of-service bonus, and expense allowance.

Tabuk

Yahya Mobaraki

0.91

1.28

Deputy CEO

Salaries, allowances, and allowance for attending the board and sub-committee meetings, as well as executive bonuses.

Naseej

Monther Al-Sorayai

1.14

1.25

CEO

Salaries, allowances, in-kind benefits, and end-of-service bonus.

Bupa Arabia

Loay Hisham Nazer

1.25

1.25

Chairman

Specific amount, allowance for attending the board and sub-committee meetings, and Chairman bonus totaling SAR 750,000.

MIS

Abdullah Al-Ghamdi

0.46

1.22

CEO

Salaries, allowances, annual variables, and end-of-service bonus.

MEPCO

NA

--

1.21

CFO

Salaries, allowances, in-kind benefits, and end-of-service bonus.

Aslak

Abdullah Al Dosari

1.13

1.17

Executive Board Member

Bonus, and allowance for attending the board meetings, technical work bonuses, end-of-service bonus, and periodic bonuses

Maadaniyah

Abdulla Sulaiman

0.95

1.16

Assistant GM of Aslak  Factory

Salaries, allowances, and end-of-service bonus.

Red Sea

NA

--

1.08

Engineering & Procurement Director

Salaries and allowances.

SASCO

Islam Ahmed

1.36

1.05

CFO

Salaries, allowances, periodic bonuses, and end-of-service bonuses.

Al Akaria

NA

--

1.05

Head of Internal Audit

Salaries, allowances, annual benefits, short-term incentive plans, and compensation.

Maadaniyah

Fath Al-Rahman Othman

0.79

1.04

CFO

Salaries, allowances, and end-of-service bonus.

Budget Saudi

Bassem Alim

0.51

1.01

Chairman

Specific amount and allowances

for attending the board meetings and Chairman bonus totaling SAR 500,000.

Lumi

Mohammed Al-Khalil

--

1.01

Chairman

Chairman bonus and allowance for attending the board meetings.

SACO

Amer Omar

0.93

1.01

CFO

Salaries, allowances, and end-of-service bonuses.

Al Yamamah Steel

Mohammed Abu Farha

1.01

1.01

CFO

Salaries, allowances, in-kind benefits, and end-of-service bonus.

Maadaniyah

Faisal Al Dakhil

0.90

0.97

General Manager

Salaries, allowances, and end-of-service bonus.

Yanbu Cement

Abdulrahman Badahdah

--

0.92

Vice President of Supply Chain

Salaries, allowances, in-kind benefits, periodic bonuses, end-of-service bonus, and expense allowance.

MESC

NA

0.81

0.91

Operations Manager

Salaries, allowances, and periodic bonuses.

Almarai

Prince Nayef bin Sultan Al Kabeer

0.88

0.88

Chairman  

Specific amount, allowances for attending the board and subcommittee meetings, as well as Chairman bonus totaling SAR 500,000.

National Gypsum

Khaled Al Ghadeer

0.81

0.87

CEO

Salaries and annual allowances.

Al Abdullatif

Adel Shaar

0.73

0.83

Director of Strategic Planning and Investment

Salaries, travel allowances, in-kind benefits, periodic bonuses, and end-of-service bonus.

Fitaihi

Yasser Abdelhamid

0.83

0.83

CEO and CFO

Salaries, allowances, periodic bonuses, and end-of-service bonus.

Arab Sea

Haitham Al-Suhaibani

0.85

0.82

CEO

Salaries, allowances, and periodic bonuses.

Ash-Sharqiyah

Mohamed Al Hujailan

0.80

0.80

Acting CEO

Salaries and allowances.

Tadawul Group

Sarah Al Suhaimi

0.35

0.80

Chairman

Specific amount.

Aldrees

Abdullah Aldrees

0.50

0.80

Executive Board Member

Allowances for attending the board and subcommittee meetings, as well as periodic bonuses totaling SAR 750,000.

Makkah Construction

Seraj Abdullah Ateeq

0.81

0.79

Former CEO

Salaries, allowances, and periodic bonuses.

MESC

NA

0.55

0.78

Board Secretary

Salaries, allowances, and periodic bonuses.

Sumou

Ahmed Hashmi

--

0.76

Engineering Manager

Salaries and allowances.

Naseej

Wissam Mohammed Surmani

0.76

0.75

GM of Sales and Marketing

Salaries, allowances, in-kind benefits, and end-of-service bonus.