Almarai Company announced that Chief Executive Officer of the company, Mr. Alois Hofbauer, has resigned from his post on July 6, 2019 due to personal reasons, and that the Board of Directors has accepted his resignation effective July 6, 2019. The Board of Directors has decided to appoint Mr. Georges P. Schorderet as Chief Executive Officer of the company effective July 7, 2019. Mr. Georges P. Schorderet has a longstanding experience serving the company lasted for 15 years.

He currently serves as Advisor to the Board Directors, and he served as Chief Executive Officer of the Company from February 1, 2015 to April 1, 2019, where he requested to retire from office. He also served as Chief Operating Officer of the company, and prior to that he was the company's Chief Financial Officer. The Board of Director has also decided to appoint Mr. Majed Mazen Rasheed Nofal as the Deputy CEO effective July 7, 2019.

He has a longstanding experience serving the company lasted for 12 years. He currently serves as the Company's Chief Financial Officer and was previously serving as General Manager ­New Businesses and Head of Central Procurement before that. He joined Western Bakeries Co.

(L'usine) in Jeddah as CFO, and after Almarai's acquisition, he served as the General Manager of Western Bakeries Co. Before joining the company, he joined Ernst & Young in Riyadh in 1992 and served in the Audit and Assurance services, where he started his professional career. Lastly, The Board of Directors has decided to appoint Mr. Paul GAY as the Chief Financial Officer effective July 7, 2019.

He has a longstanding experience serving the company lasted for 8 years. He has served as Chief Financial Officer of the Company. Before joining the company he held many senior financial positions across a wide range of companies including Firmenich, Givaudan, Roche Group, Computerland Europe, ICL, National Semiconductor and IBM across China, Japan, the United States of America and Europe.