Makkah Construction appoints Mohammed Al-Nafea as CEO

Makkah Construction and Development Co. announced a decision made by its board of directors during its meeting, held on July 31, to appoint board member Mohammed Al-Nafea as the company’s CEO.

In a statement to Tadawul, the company said the decision was based on the recommendation of the Compensation and Nomination Committee, noting that Al-Nafea will officially assume his new role as of August 1.

The company further clarified in a separate statement to Tadawul that the board accepted Al-Nafea's resignation from the Chairmanship of the Audit Committee, effective August 1, in light of his appointment as CEO.

Al-Nafea has served as a board member of the company since June 10, 2023. He holds a bachelor’s degree in accounting from Imam Mohammad Ibn Saud Islamic University (IMSIU) and an MBA from the University of Missouri. He has also completed several executive graduate programs in strategy, finance, and leadership from Harvard University and London Business School.

The statement highlighted Al-Nafea's extensive experience of over 15 years, characterized by significant achievements in leadership, management, strategic planning, and finance. He has held various managerial roles at Saudi Arabian Oil Co. (Saudi Aramco), culminating in his recent position as CFO of Saudi Aramco Base Oil Co. (Luberef).

Additionally, the company announced the appointment of board member Hisham Mufti as the new Chairman of the Audit Committee, effective August 1, succeeding the outgoing chairman.