Saudi Arabian food group Savola has appointed a new CEO. 

In an announcement yesterday (19 January) the group said it was appointing Rayan Mohammed Fayez as CEO.

Fayez previously held the role of managing director and CEO at JP Morgan in Saudi Arabia. He succeeds Abdullah M. Nour Rahemi who will continue with the group as managing director until the end of term on the board of 30 June.

“The board of directors would like to thank – in advance – H.E. Eng. Rahemi for his contribution towards the group’s accomplishments as group MD and CEO, wishing him continued success in the future. Moreover, the board welcomes Eng. Fayez and wish him all the success in his new capacity as a CEO of the Savola Group,” the statement added.