Taiba Holding Co.’s board of directors has accepted the resignation of chief executive and managing director Adel Al Zaid, which had been submitted on Sunday and cited personal reasons.
Al Zaid’s resignation will come into effect on Monday, January 11, 2016, and he will be replaced by Ayman Bin Hamzah Said, who currently serves as the company’s vice executive chairman, the Saudi-based firm said in a statement to Tadawul.
Said has worked at Taiba Holding since 1992, holding a number of senior positions. He has more than 28 years of investment and finance experience and holds a Bachelor’s degree in accounting.