Saudi Arabian Military Industries (SAMI) announced a new board of directors and the appointment of Dr. Andreas Schwer as Chief Executive Officer.
Saudi Arabian Military Industries, a state-owned arms manufacturer, has today announced the election of a new board of directors chaired by H.E. Ahmed Al Khateeb, and the appointment of Dr. Andreas Schwer as CEO of the company.
Dr. Andreas Schwer was earlier the Chairman and President of Rheinmetall International and CEO of its Combat Systems Division.
After completing his studies at the universities of Stuttgart and Delft in the Netherlands, Dr. Schwer worked for the European Space Agency (ESA), after which he rose through the ranks at the EADS Group, remaining there for ten years and holding various positions at EADS Astrium, Eurocopter and the Defence and Security unit (now known as Cassidian).
After leaving EADS, he served in senior management at The Manitowoc Company Inc., a US crane manufacturer.
SAMI’s new board members are H.H. Prince Faisal bin Farhan Al Saud, H.E. Eng. Khalid Al Falih, H.E. Dr. Ghassan Al Sulaiman, H.E. Dr. Ghassan Al Shibl, and Mr. Abdulaziz Al Sowailem. Three defense industry experts will join the board at a later stage.
Saudi Arabian Military Industries is a new national military industries company and a key component of the economic diversification agenda under Vision 2030.
It has a mandate to be a major contributor in ensuring 50 percent of the Kingdom’s military procurement spending is localized by 2030.
The company has already signed MoUs with Boeing, Lockheed Martin, Raytheon and General Dynamics to support the growth and development of its four business units: Air Systems, Land Systems, Weapons and Missiles and Defense Electronics.
For more information, visit http://www.sami.com.sa/.