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.