Almarai Company Announces Management Changes
The Board of Directors of Almarai Company announced that the Chief Executive Officer, Georges P. Schorderet, after having worked for Almarai for close to 15 years, has decided to take a well-earned retirement during first half 2019, decision that has been accepted by the board of directors. In 2017, a succession project, managed by the Board of Directors, for the role of Chief Executive Officer was launched. Followed interviews with a wide range of potential candidates, the board of directors successfully concluded the project with the selection of Alois Hofbauer. Alois will join Almarai Company on 1 January 2019 and his appointment as Chief Executive Officer will be effective from 1 April 2019. Until that time, Georges will continue in his role as Chief Executive Officer providing direction and support to the business and ensuring a smooth transition process. In addition, Georges will remain beyond 1 April 2019 at the disposal of the Board of Directors to ensure an important level of continuity.