Page 46 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:59 PM Emaar the Economic City Announces Chief Executive Officer Changes -April 03, 2024 at 12:24 am EDT | MarketScreener
Emaar the Economic City Announces

Chief Executive Officer Changes

April 03, 2024 at 12:24 am EDT Share

Emaar the Economic City announced the issuance of the Board of Director?s

resolution on 28 March 2024, based on the Remuneration and Nomination

Committee?s (RNC) recommendation- approving the appointment of Mr.

Abdulaziz Ibrahim Alnowaiser as the Company?s CEO effective from 01 May

2024, as he accepted the employment offer on 02 April 2024. Moreover, in

reference to the Company?s announcement dated 27 February 2024

regarding the Board of Director?s approval of the CEO Eng. Cyril Piaia?s

request not to renew his contract, the Board of Directors also agreed to

appoint Eng.

Cyril as Advisor to the CEO to facilitate the handover process effective from

01 May 2024 until the end of his notice period, based on his current contract,

on 31 August 2024. Mr. Alnowaiser has more than two decades of work

experience, which included Board-level positions, in addition to his executive

experience as his most recent role was the CEO of Tahakom Investments Co.

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?s educational qualifications
include prestigious degrees in accounting, finance and information systems,

as well as a Diploma in International Financial Reporting Standards (IFRS).

He earned his Bachelors degree in Accounting from King Saud University,

KSA, and he also holds a Master of Accounting degree from Case Western

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