Almarai has promoted Abdullah Nasser Al Bader to chief executive of the Saudi Arabia-based food and beverages business following the departure last November of Majed Mazen Nofal, who resigned for personal reasons.

Al Bader’s appointment became effective yesterday (7 March), Riyadh-headquartered Almarai said in a stock-exchange filing. He has been with the company for more than 20 years and most recently served as executive vice-president for the firm’s bakery division, a position he held since 2015.

Nofal resigned on 17 November after only 11 months in the role, with Bader Abdullah Al Issa stepping in to oversee operations as managing director. Nofal had been promoted from deputy CEO to succeed Georges Schorderet, who was re-appointed chief executive in July 2019.

In turn, Schorderet had been installed to replace Alois Hofbauer, who resigned in July 2019 for personal reasons. 

Almarai produces a range of food and drinks products stretching across dairy, poultry, bakery, infant nutrition and juices.  

For the year ended 31 December, Almarai booked revenues of SAR15.36bn (US$4.09bn), an increase of 7% over the previous 12 months.

Operating profit rose 4% to SAR2.5bn, while net profit climbed 5.6% to SAR1.9bn.