| Introduction | The Savola Group (Group or Savola) would like to announce its Board of Directors’ acceptance of the resignation of the Group’s Chief Executive Officer, Mr. Waleed Khalid Fatani based on a mutual agreement as part of the Group’s strategic transformational direction that aims to focus on Food Sector, following a successful tenure marked by major strategic milestones. In this regard, the Savola Group’s Board extended their deepest appreciation to Mr. Fatani for his leadership, commitment, and contributions to Savola’s transformation journey during his office term. The Board also wishes him all the best in his future endeavors. Additionally, the Board decided to appoint Mr. Sameh Mahmoud Hassan, as the new Savola Group CEO based on the Remuneration and Nomination Committee recommendation, Mr. Sameh currently holds the position of the CEO of Savola Foods Co. (a wholly owned subsidiary of Savola Group) since December 2018. This leadership change reflects the Group’s continued evolution, with Savola Foods at the center of its future growth ambitions. It is worth mentioning that Mr. Sameh Hassan is a seasoned executive in the FMCG and food industries, where he brought decades of leadership experience across prominent regional and global organizations in the food industry and various other sectors. As a continuation of his leadership role, Mr. Sameh Hassan will commence his duties as CEO of Savola Group as of 01/07/2025. |
