Page 31 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:57 PM Emaar, the Economic City Appoints Mr. Abdulaziz Alnowaiser as CEO, Effective 1st May 2024 - mid-east.info
Emaar, the Economic City Appoints Mr.

Abdulaziz Alnowaiser as CEO,

Effective 1st May 2024

April 3, 2024 10

King Abdullah Economic City, Kingdom of Saudi Arabia, 3 April 2024: Emaar, the Economic City
(“EEC”), the master developer of King Abdullah Economic City (“KAEC”), today (Wednesday

rd
3 April 2024) announces the Board of Directors’ decision to appoint Mr. Abdulaziz Ibrahim
st
Alnowaiser as its new Chief Executive Officer, effective May 1 , 2024.

With his extensive background in turnaround, finance and corporate governance, Mr.

Alnowaiser has been appointed for his ability to drive the execution of the Company’s long-
term strategic vision. Additionally, the current CEO, Eng. Cyril Piaia, has been appointed as an

Advisor to the new CEO, Mr. Alnowaiser, which will facilitate a seamless transition of
responsibilities as of the date of joining of the new CEO.

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

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