Ash-Sharqiyah names Ayman Al-Sheikh as CEO after Al-Rahma quits

17/01/2016 Argaam

The board of Ash-Sharqiyah Development Co. has accepted the resignation of the company’s managing director and chief executive officer Mohammed Al-Rahma, effective Jan. 16, the company said in a statement to Tadawul on Sunday.

 

The company’s board of directors also decided to appoint the administrative and financial affairs director, Ayman Bin Zareaa Al Sheikh, to the post of CEO effective, the same day.

 

Ayman Al-Sheikh holds a bachelor's degree in planning engineering from King Abdul Aziz University.

 

Meanwhile, the company said Sunday it swung to an estimated net profit of SAR 9 million for the 2015 fiscal year, against a net loss of SAR 2.4 million the previous year. The company attributed the change to increase in sales and a rise in revenue.

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