The National Shipping Co. of Saudi Arabia (Bahri) said Ibrahim bin Abdul Rahman Al Omar is no longer the chief executive officer, the company said in a statement to Saudi bourse, Tadawul.
In a series of announcements made late on Saturday, King Salman issued a royal decree appointing Al Omar as the governor of Saudi Arabian General Investment Authority (SAGIA).
Bahri said the board of directors will soon name a new CEO.
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