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SEDCO Holding Group Appoints Two New Board Members

31 May 2018

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In line with the international best practices of Corporate Governance regulations adopted by SEDCO Holding Group, two new members appointed to the Board of Directors, as of May 2018: Mr. Yaser Saleh Bin Mahfouz and Mr. Simon Palethorpe, completing its eight-members’ Board.

The Chairman of the Board of Directors of SEDCO Holding Group, Sheikh Saleh Bin Mahfouz, extended his sincere welcome to the new members. “The confidence placed by the Board in the two new members’ expertise highlights the strengthening of governance controls through a knowledgeable Board of Directors, whose members are experienced in various business sectors, thus ensuring the Group’s leadership through bringing international expertise and knowledge to the local scene, as well as adding value to the businesses and activities managed by the Group across various economic sectors and investment portfolios to achieve the objectives of the Kingdom’s Vision 2030”, said Bin Mahfouz.
“The appointment of Yaser Bin Mahfouz and Simon Palethorpe as the newest members of the Board is a well-informed decision, considering their immense regional and global knowledge and experience. They will make a valuable addition to the Group’s diverse business and investment activities, effectively contributing to the implementation of the Saudi Vision 2030”, said Hasan Al Jabri, CEO of SEDCO Holding Group, while welcoming the two new members.

Yaser Bin Mahfouz has over 15 years of global investment experience, acquired by working with numerous reputable international investment companies. He has also held several senior positions within SEDCO Holding Group.

Simon Palethorpe has over 27 years of experience in management consulting, supply chain and marketing of brands and business to business service and retail sectors. Simon has gained valuable experience through his work at many international companies, including ATG, Terra Firma Capital, and Avis Europe.

By leveraging international expertise and adopting best practices in business, SEDCO Holding Group aims to achieve the national interests and objectives of the Kingdom’s Vision 2030.

About SEDCO Holding Group:
SEDCO, the Saudi Economic and Development Company, is a leading private wealth management organization that conducts its business according to Islamic guidelines widely known as Shari’ah. SEDCO was established in 1976. It manages a wide and diversified spectrum of real estate investments, investments in equities, and other businesses in Saudi Arabia and around the world. It is located in the Red Sea Mall building, Kind Road, Jeddah, Saudi Arabia. Its invests companies have over 6,000 employees. SEDCO Holding Group mainly operates through three lines of businesses: direct investment, real estate investments, and financial investments. Direct investments are in multiple sectors/industries and serve different clients from F&B, to pharmaceutical, auto leasing, real estate, and hospitality. The delivery mechanism varies depending on the target audience of each business and sector.
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