Red Sea Saudi approves CEO resignation and appoints Ghassan Nasseef as CEO

According to the company's statement on the Saudi market "Tadawul" today, Sunday, Hani Ba'ithman will continue his duties as a delegated member of the company, contributing to monitoring its strategic priorities, projects, and executive initiatives, including the plan to increase the company's capital during the transition phase.

The company clarified that this decision reflects its direction towards developing its leadership system in line with the requirements of the upcoming phase, enhancing its readiness to implement its plans and achieve its objectives, while leveraging the continuity of leadership expertise and its role in supporting the company's trajectory and enhancing shareholders' interests.

It noted that the Board of Directors decided to appoint Ghassan bin Nabil bin Abdulilah Nasseef as Chief Executive Officer of the group, to lead the company in the upcoming phase, achieve its strategic aspirations, strengthen sustainable growth, and create value for shareholders.

It also highlighted that Ghassan Nasseef possesses over 25 years of professional and executive experience in corporate and investment banking services, financial advisory, restructuring, corporate transformation, and business development.

During his career, Nasseef has held several leadership and executive positions, notably as a delegated member of Teneo in Saudi Arabia, Business Development Director at Swicorp, Head of International Corporate Banking Services at Emirates Islamic Bank, as well as various leadership roles in the banking sector at the Saudi Hollandi Bank, National Commercial Bank, Bank Albilad, SAB, and Saudi French Bank.

Ghassan Nasseef holds a Bachelor’s degree in Electrical Engineering from King Fahd University of Petroleum and Minerals, along with several professional certifications and courses specialized in finance, leadership, and restructuring.