| Element List | Explanation |
|---|---|
| Introduction | TAM Development Company (“TAM” or the “Company” | Tadawul: 9570) announces that its Board of Directors has issued a resolution dated 14/04/2026G corresponding to 27/10/1447H, approving the resignation of Mr. Abdullah Anwar Mohammed Yousef from his position as Chief Executive Officer of the Company. Effective 15/04/2026G corresponding to 28/10/1447H, Mr. Abdullah will continue his role as Board Member and Managing Director, where he will support the leadership transition and provide strategic guidance and oversight in alignment with TAM's long-term vision and value creation priorities. The Board extends its sincere gratitude and appreciation to Mr. Abdullah during his tenure as the Chief Executive Officer for his leadership and contributions since establishing the Company and building its foundations, including the implementation of a number of strategic initiatives, the listing of the Company on the Nomu – Parallel Market of the Saudi Exchange, and the advancements of key development milestones that strengthened the Company’s business and supported its growth trajectory. The Board of Directors has also decided, in line with the Company’s strategic growth objectives, and based on the recommendation of the Remuneration and Nomination Committee, to appoint Mr. Firas bin Ghazi bin Ibrahim Almatrafi as Chief Executive Officer of the Company, effective 15/04/2026G corresponding to 28/10/1447H. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Abdullah Anwar Mohammed Yousef |
| Resignation Acceptance Date | 2026-04-14 Corresponding to 1447-10-26 |
| Resignation Effective Date | 2026-04-15 Corresponding to 1447-10-27 |
| Reasons for Resignation | The leadership changes are intended to further strengthen execution and support the Company’s next stage of scaling and transformation towards a technology-enabled solutions company. Under the leadership of the newly appointed Chief Executive Officer, TAM Development is strengthening its structure to scale its offerings, accelerate delivery, and capitalize on strategic opportunities across priority sectors. |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Firas bin Ghazi bin Ibrahim Al-Mutrafi |
| Date of Board Resolution | 2026-04-14 Corresponding to 1447-10-26 |
| Date Work Commencement | 2026-04-15 Corresponding to 1447-10-27 |
| Brief Resume | Mr. Firas brings over 16 years of executive leadership with a specialization directly relevant to TAM's strategic direction: transforming traditional professional services organizations into scalable, technology-powered solutions. He recently served as Chief Operating Officer of AHAD Business Services, (THIQAH’s business solutions arm), where he led a similar transition, redesigning the operating model, scaling solutions-based offerings, and managing multi-year outcome-based engagements exceeding SAR 1 billion across real estate, healthcare, and government services. Mr. Firas is particularly recognized for commercializing strategy into scalable, revenue-generating business models, enabling organizations to evolve from traditional offerings into integrated business solutions and managed services platforms. Throughout his career, he has worked closely with boards and executive committees to strengthen governance frameworks, enhance organizational performance, and position businesses for their next phase of growth and market expansion. He also serves on the boards of multiple special purpose vehicles and Managed Services Center (MSC). Mr. Firas holds an MBA from IE Business School in Madrid and completed Harvard Business School’s flagship General Management Program. For more details, you can refer to the attached press release. |
| Attached Documents | Attached Documents |
