Tihama’s ex-CEO says tangible savings generated via restructuring, to defend position legally

He highlighted that during his tenure, the group’s key expense items declined from about SAR 55.76 million to SAR 18.36 million, a reduction of SAR 37.4 million, or 67%. “The decline reflected the cumulative impact of the group’s restructuring, including the liquidation of several subsidiaries whose expenses had previously been included in the group’s cost base, as well as cost-control measures and improved efficiency across continuing operations,” he continued.

The liquidation of Tihama Education Co. generated a profit of nearly SAR 12 million as of March 31, 2026, while the liquidation of Tihama Modern Libraries Co. is currently expected to generate SAR 16 million profit, based on current estimates and subject to completion of the liquidation procedures, according to Al-Dosari.

He further stated the restructuring measures also helped address businesses and loss-making sources that had been costing the group approximately SAR 8 million annually.

Al-Dosari also said that the current board did not enable him to perform his duties as CEO in the manner required during his tenure, arguing that a number of the board’s practices and decisions raise questions regarding compliance with capital-market laws and regulations.

He added that some of those decisions did not place shareholders’ interests at the forefront. He stressed that he intends to raise these matters through the legal procedures he plans to pursue before the competent judicial and regulatory authorities, and to submit the documents and evidence in his possession in support of his position.