Riyadh – Mubasher: Dar Al Arkan Real Estate Development on Monday announced that its CEO Abdulrehman Hamad Al Harkan has submitted his resignation for personal reasons.
The Saudi company’s board of directors approved the resignation of Al-Harkan, who doubles as a board member, according to a filing to the Saudi Stock Exchange (Tadawul).
The resignation will be effective from 1 June.
The company did not mention who will take over the CEO position after Al Harkan.
The Saudi company had previously reported a 30.18% decline in its net profits to SAR 250.8 million in 2016, from SAR 359.2 million in the 2015.
By 10:48 am Saudi time, Dar Al Arkan’s stock gained 3.15% to SAR 6.55.
