Page 14 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:56 PM Emaar EC appoints Abdulaziz Alnowaiser as CEO, effective May 1
Mr. Alnowaiser will be mandated by the Board to bring strategic insight to EEC and KAEC’s
long-term planning, fostering innovation and sustainable development across the organization

and the City. With more than two decades of Board-level and executive experience, his most
recent role was the CEO of Tahakom Investments Co., a wholly-owned Company of the Public

Investment Fund with several subsidiaries across different sectors including technology,
aviation, traffic management, travel & visa solutions, human resources and real estate
investments. He was previously the M&A Advisor and Vice President Finance (CFO) at

Arabian Internet and Communications Services Co. (Solutions), prior to which he was Vice
President Finance (CFO) at Al Othaim Real Estate Investment & Development Company and

CEO of the House of National Consulting Company. Mr. Alnowaiser is currently the Chairman
of the Board and the Executive Committee at Tawuniya Insurance Company since 2020, and
was a Board Member from 2015 to 2019. He is also, or was, a member of the Board and/or

Board Committees of several other listed and non-listed companies. His educational
qualifications includes prestigious degrees in accounting, finance and information systems, as

well as a Diploma in International Financial Reporting Standards and other professional
certifications.

Mr. Fahad AlSaif, Chairman of EEC, commented, “The appointment of Mr. Alnowaiser as CEO
is an important moment for both EEC and KAEC as we pursue the implementation of our

ambitious long-term strategy. His leadership skills and diverse professional experience are
precisely the attributes EEC and KAEC require to achieve their operational, financial and

strategic goals, and we are certain that his forward-thinking approach will drive meaningful
progress for our development projects. We would like to thank Eng. Cyril Piaia for his

commitment and success in the role of CEO over the years, and we are delighted that he will
remain with us to continue to advise our new CEO."

The Board of Directors expresses its profound gratitude to Eng. Piaia for his outstanding
leadership and contribution to ECC and KAEC, and is confident that Mr. Alnowaiser will build

on this solid foundation to propel the Company forward.

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