Saudi food giant The Savola Group said its CEO, Dr. Abdulraouf Mohamed Mannaa, is to step down for personal reasons.
Dr. Mannaa submitted his resignation on July 19, but will remain in charge of the Group until December 31. Engineer Abdullah Mohammed Noor Rehaimi, currently a board member, will take up the role on January 1, 2015.
Dr. Mannaa has been chief executive since July 2010. He obtained a PhD from the University of Washington in Seattle in 1982. Eng. Rehaimi studied at King Fahad University of Petroleum and Minerals in Dhahran and graduated in 1975 in mechanical engineering. He was appointed board member of Savola in September 2010.
The Savola Group was established in 1979 with the objective of manufacturing and marketing edible oil and vegetable ghee in Saudi Arabia. It is now one of the largest food groups in the Gulf region, with a portfolio of businesses and activities including foodstuff, hypermarkets and convenience stores, and flexible packaging. The group achieved revenues of SAR 26.37 billion in 2013.
Photos: Rehaimi (left) and Mannaa