Riyadh – Mubasher: Almarai Company’s board of directors has approved the resignation of current CEO Georges P. Schorderet in the first half of 2019 and will be replaced by Alois Hofbauer.
Hofbauer will join the Gulf's largest dairy company on 1 January 2019, while his work as the new CEO will start in April 2019, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.
During the first half of 2018, Almarai reported a profit of SAR 1.004 billion, up from SAR 1.002 billion in the year-ago period.
By 10:38 am Saudi time, Almarai’s stock inched down 0.10% to SAR 48.20.
